The UK financial services sector is continuing to show signs of recovery, according to a new survey, as optimism has improved, business volumes have increased and firms are taking on new staff.
Business volumes were up for the eighth quarter in a row in the first quarter of 2012, according to data from both PricewaterhouseCoopers (PwC) and the Confederation of British Industry (CBI).
A separate survey reported UK finance chiefs were less fearful of a UK recession or a euro break-up than previously.
The news follows growth also being reported in the Manufacturing sector, with further month-on-month increases seen in the closely-watched Purchasing Managers’ Index (PMI).
The CBI’s chief economic adviser, Ian McCafferty, was pleased with the sector’s improving picture but urged caution, “The unexpected rise in employment is a further encouraging sign for the sector.”
“But with the current level of business regarded as below normal, conditions still remain challenging for financial firms.”
Skipton Business Finance is part of an exclusive list of invoice finance lenders granted approval to lend using the Enterprise Finance Guarantee scheme.