Financial services Q4 forecast gloomy

Demand and profitability are set to weaken, despite volumes increasing at the fastest rate in over seven years, the CBI and PricewaterhouseCoopers (PwC) report found. The results showed profitability sentiment in the life insurance sector was at its weakest in the history of the survey, while the pace of growth in fund management is expected to slow. CBI chief economic adviser Ian McCafferty says the survey of 68 firms, conducted between 23 May and 6 June, showed “signs that activity in the sector may be starting to come off the boil”. “The outlook for the coming quarter is one of flat b...