Financial services companies' optimism increased between December and March by more than at any time for five years, as business volumes and profitability grew strongly for the fourth consecutive quarter.
The latest quarterly survey of the industry, published today by the CBI and PricewaterhouseCoopers, shows that growing activity in the wider economy gave the sector a major boost, reinforcing the recovery that began early last summer.
Asked whether they were more optimistic about the business situation in their sector than three months ago, 51 per cent said they were more and just seven per cent said they were less. The balance of plus 44 per cent compares with plus 29 per cent in the December survey and is the strongest balance since June 1999.
