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Positive signs for financial services

14 August 2013

The UK financial services sector is well on the way to recovery, according to new statistics. 

Trade body the TheCityUK has released the results of its Competitiveness Tracker for quarter two of 2013, which found conditions in the industry have improved for the second quarter in succession for the first time in two years.

Of the 16 indicators that make up the tracker, 11 were up and five were down, with volume of business and credit availability among those that increased, as well as new authorisations of firms and people.

Chris Cummings, TheCityUK chief executive, said these figures demonstrate the strength of the sector.

“The UK remains one of the most-competitive locations in the world for financial services and London is still the number one global financial centre," he commented. 

He claimed the recent increase in gross domestic product figures has boosted confidence among financial firms and expects conditions to improve further in the third quarter.

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Categories: Commercial, Financial Services, Financial Management

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