Balance: Business Volumes and Quarter

balance: The resulting balance of -7 percentage points marks a reversal from 12 in the previous quarter is the first contraction in demand since September 2013, according to The Guardian. The decline is expected to continue, with 20% of firms predicting a further drop in business volumes over the coming quarter, versus 12% forecasting a rise, a balance of -9. The latest CBI/PwC Financial Services Survey showed the financial services sector had a difficult end to 2018, with just 24% of firms reporting a rise in business volumes in the three months to December, compared with 32% having experienced a decline. That is the weakest outlook since December 2009. A combination of macroeconomic and Brexit uncertainty, regulatory compliance and global market volatility are taking a toll on the UK's financial services sector, the CBI's chief economist, Rain Newton-Smith, said. The report said the pessimistic outlook was in line with subdued prospects for the wider UK economy given weak wage growth and the impact that Brexit uncertainty has had on investment. (news.financializer.com). As reported in the news.