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| CBI: Financial services set to grow |
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| Latest Recruitment News - HR and Recruitment Legislation News |
| Written by DirectNews Feed |
| Tuesday, 30 March 2010 00:00 |
 A new report has indicated the UK financial services sector is on course for improved growth in the next quarter. According to the latest Confederation of British Industry (CBI) and PricewaterhouseCoopers financial services survey, business profitability is expected to increase further in the next three months following a stable previous quarter. A total of 43 per cent of businesses in the survey reported that their volumes increased in the last three months in comparison to the 42 per cent who reported decreases. And a balance of 48 per cent of all companies are anticipating a rise in volumes in the next quarter - the highest figure since March 2006. However, according to the report, apprehension about the amount of legislative procedure involved in the industry has now reached record levels. In contrast to March 2009, building societies reported a profitability increase during the previous three months - and although banks and security traders saw their volumes fall - they remain positive of a reversal in the next quarter. The CBI's chief economic adviser, Ian McCafferty, said: "Activity in the financial sector held steady in the last three months, and there are signs of better things to come." Posted by Daniel Frost 
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