CBI/PwC Financial Services Survey

Volumes of business are expanding across much of UK financial services, and the industry as a whole is allowing costs to rise. Companies need to strike a balance between investing for growth and defending levels of profitability.

Download CBI/PwC Financial Services Survey (pdf - 555kb)

Most sub-sectors of the industry see volumes of business expanding. As a result they are spending more on developing their businesses. This is pushing up levels of employment, although growing regulation is one of the factors driving recruitment. Companies should try to look at their long term priorities when hiring new staff, not just their short term needs.

In contrast, banks and securities traders are feeling less confident. These sectors see business declining and are concerned about falling levels of demand. They also have specific concerns over government intervention in UK retail banking, and uncertainty in international debt markets. Companies in these sectors are still increasing their spending, but are working harder than most to limit the impact on profitability.

The CBI/PwC Financial Services Survey is a quarterly trends report that discusses the health, perceptions and plans of the UK financial services industry.

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