RTTNews - Monday, according to the latest Financial Services Survey conducted by the Confederation of British Industry and PricewaterhouseCoopers, the financial service sector firms in the U.K. expect business volumes to improve over the coming quarter, after seeing 21 months of falls. The survey also found that optimism about the overall business situation has risen for the first time in two years.
In the three months to June, the level of business, income and profitability continued to decline, but at a much slower pace than earlier this year. This suggests the industry may now be on a gradual path towards recovery, though differences between the sectors remain, the CBI said.
Insurance companies are the most optimistic about business growth over the next quarter, while banks expect higher volumes. Building societies expect the volumes, incomes and profits to stabilize over the next quarter. However, securities traders expect the recent improvement to be short-lived, with volume expected to decline again next quarter.
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