Business activity in the UK's financial sector is on the rise, according to a new report.

Monday 2 April 2012

Posted by James Curtis

Business activity in the UK's financial sector is on the rise, new research has shown.

This is likely to lead to a spike in demand for limited company contractors working in the industry.

Research recently published by the Confederation of British Industry (CBI) in conjunction with PwC has revealed that business volume in the sector has now been increasing for eight consecutive quarters.

Indeed, the Financial Services Survey showed that a growing number of firms are displaying optimism for the year ahead, with a net balance of +32 per cent .

A rising number of businesses saw employment levels increase in the sector, with the survey showing a balance of +19 per cent.

Ian McCafferty, CBI chief economic adviser, said: "Financial services sales volumes and income continued to rise this quarter, putting the sector's recovery on a firmer footing. 

"Optimism levels and business investment intentions have also improved, in contrast to last quarter as some of the worst risks around the euro area crisis have eased. The unexpected rise in employment is a further encouraging sign for the sector."

By Victoria McDonnell

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