'No growth' for financial services in Q1-papers

A study by the CBI and PWC found 32% of firms questioned saw their business volumes rise in Q4, 2009. However, 28% said they had fallen, resulting in a balance of +4%  which is well down on the +16% predicted. The report said a balance of +13% of firms expect to see a reduction in business volumes in the current quarter; the most negative expectation since December 2008. "The bounce in UK financial services activity over the past six months is not expected to last as we enter 2010," said CBI chief economic adviser Ian McCafferty. "On a more positive note, financial services firms' con...