CBI: Financial services bounces back to pre-crisis level

According to the latest CBI/PwC Financial Services Survey, 33% of firms say business levels rose in the three months to March, with only 11% saying they fell. With the balance now at +22%, the sector is amost back to the +27/28% range seen before September 2007. Among private individuals, volumes rose at the fastest pace since December 1996, although volumes fell unexpectedly among finance houses. Meanwhile, profits were boosted within the investment management sector, despite further increases in costs. Ian McCafferty, CBI chief economic adviser, says: "A third quarter of stron...