The Financial services industry could be heading for a broad-based recovery, if the level of optimism advocated within the latest CBI / PwC quarterly provides a suitable benchmark for the state of the sector.
Optimism (for the state of the business situation) among industry professionals has risen to a balance of plus 37%, a sharp increase from the previous survey’s plus eight per cent, and is the highest since June 1999.
John Hitchins, UK banking leader at PricewaterhouseCoopers, explains: “This latest survey shows an encouraging rise in both confidence and business volumes, and all the sectors most closely exposed to the stock market have reported a growth in business with private individuals.
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