9 April 2001, 15:56 UK financial services optimism falls to lowest level in 2 years - CBI/PWC
LONDON (AFX) - Business confidence in the UK financial services
sector fell to its lowest level for more than two years despite rising
volumes, according to the latest survey of the sector from the
Confederation of British Industry and leading accountancy firm
PriceWaterhouseCoopers.
According to the survey, a balance of 22 pct of companies were less
optimistic than three months ago. The figure was in sharp contrast with
last December's, where a balance of 2 pct had remained positive.
According to Ian Dilks, partner at PriceWaterhouseCoopers, sectors
closest to the equity markets such as securities traders and fund
managers show the most marked decline in optimism.
" ...those closest to the 'real economy,' including general
insurers remain positive overall and expect future growth in
profitability," he said.
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