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10/07/2001
SURVEY REPORTS INCREASED CONFIDENCE IN BUSINESS SECTOR
A SURVEY published by the CBI and PricewaterhouseCoopers has shown that business confidence in the financial services has eased after suffering its biggest fall for more than two years.
The quarterly survey of the financial services sector shows an increase in optimism but also shows that business levels were down.
Statistics from the recent survey show that a quarter of businessmen said they were more optimistic than three months ago while only 22 per cent stated the reverse. However, more firms expect business to rise over the next three months than expect it to fall.
John Hitchins, Financial Services partner at PricewaterhouseCoopers said: "We've seen the business confidence of financial services firms stabilise this quarter, after slipping back earlier in the year. But, because overall profitability has seen its first decline for six years, it's clear this is a reflection of less turbulence in the market rather than an improvement in underlying fundamentals.”
The IT sector has shown that a balance of forty one per cent of financial services firms said the total value of their Internet business had increased over the last three months. In March the figure was 39 per cent, meaning that Internet business is spreading slightly more quickly, but 33 per cent of firms said it was not developing as quickly as they had expected.
The number of firms launching online brands is virtually the same as in March. Twenty eight per cent said they had launched online brands while 10 per cent said they were planning to. The number of firms who are providing existing businesses with a website has risen to 83 per cent compared with 76 per cent in March. (AMcE)
The quarterly survey of the financial services sector shows an increase in optimism but also shows that business levels were down.
Statistics from the recent survey show that a quarter of businessmen said they were more optimistic than three months ago while only 22 per cent stated the reverse. However, more firms expect business to rise over the next three months than expect it to fall.
John Hitchins, Financial Services partner at PricewaterhouseCoopers said: "We've seen the business confidence of financial services firms stabilise this quarter, after slipping back earlier in the year. But, because overall profitability has seen its first decline for six years, it's clear this is a reflection of less turbulence in the market rather than an improvement in underlying fundamentals.”
The IT sector has shown that a balance of forty one per cent of financial services firms said the total value of their Internet business had increased over the last three months. In March the figure was 39 per cent, meaning that Internet business is spreading slightly more quickly, but 33 per cent of firms said it was not developing as quickly as they had expected.
The number of firms launching online brands is virtually the same as in March. Twenty eight per cent said they had launched online brands while 10 per cent said they were planning to. The number of firms who are providing existing businesses with a website has risen to 83 per cent compared with 76 per cent in March. (AMcE)
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