Optimism in Britain's financial services sector rose in the last quarter to...
LONDON - Optimism in Britain’s financial services sector rose in the last quarter to snap a four-year decline, with business volumes also predicted to grow in coming weeks, a survey showed on Monday.
“The stirrings of optimism represent a significant turnaround given the flat and falling optimism that has beset the past four years,” said Andrew Kail, head of financial services at PwC.“An uptick in hiring in hiring, investment in systems, and better profit expectations for the first three months of the year are driving the positivity in the sector, following the general election,” Kail said.
This ensures that Britain will leave the bloc on Jan. 31 with an 11-month no-change transition deal to ease business concerns over a potentially disorderly departure.But the financial sector is now waiting to see what sort of access it will have after the transition period to the EU, its biggest export customer, which could be patchy at best.
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