THE volume of business in UK financial services grew for the seventh quarter running and at the fastest pace since June, 2007, in the three months to December, according to the latest CBI/PwC Financial Services Survey published today.
The level of business was also seen as being normal, after being regarded as below normal since September, 2007.
In the next three months, firms expect business to continue growing, albeit at a slightly slower pace.
However, this positive picture is tempered by a fall in sentiment and employment levels in this quarter.
Firms also say that they plan to invest less over the coming year.
Of the 106 financial companies surveyed, 53% saw volumes rise in the quarter to December, and 24% reported a fall.
The resulting balance of +29% is the highest since June, 2007 (+51%) and above expectations (+5%). Firms expect volumes to continue to increase next quarter (+19%).
