Financial services activity sees strong growth, report suggests

ACTIVITY grew strongly in the UK financial services sector for the second quarter in a row in the three months to December, according to a survey released today.

However, the latest CBI/PwC Financial Services Survey said profitability did not increase as fast as expected, growing at the slowest pace for 18 months, and numbers employed in the sector fell at the fastest pace for 17 years.

Asked how their business volumes fared in the three months to December, 50% said that volumes increased and 23% said they fell.

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