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Business confidence down

Business confidence amongst financial services firms suffered its biggest fall for two years in the last quarter, according to a survey by Confederation of British Industry and PricewaterhouseCooper.

The survey shows 35 per cent of respondents were less optimistic than three months ago, while 13 per cent were more optimistic, giving a balance of minus 22 per cent, compared with plus two per cent in December 2000.

Internet business is developing across the industry, with 42 per cent of firms saying the total value of internet business increased over the last three months, compared with 27 per cent in December 2000.

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