The 74th CBI/PricewaterhouseCoopers financial services survey shows the industry waking up to a harsh new reality. Although sentiment improved slightly since the autumn, respondents remain notably depressed and are facing a longer, slower road to recovery than had previously been expected. Concerns over asset write-downs and liquidity persist, and are now accompanied by growing worries over the economic outlook and the strength of consumer demand. The credit crunch is clearly recognised as affecting the whole industry, with many subsectors acknowledging the need for real adaptation in response to their new environment.
© 2008 PricewaterhouseCoopers. All rights reserved. PricewaterhouseCoopers refers to the network of member firms of PricewaterhouseCoopers International Limited, each of which is a separate and independent legal entity.
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