British Financial Services Optimism Wanes as Cost-of-Living Crisis Hits

A woman exercises with a dog near the City of London financial district, in London, UK, on April 30, 2021. John Sibley/Reuters

Sentiment among UK financial services firms fell at its quickest pace since September 2019 as businesses worry about the impact of the cost-of-living crisis, according to a new survey.

Firms reported declining optimism, with fears over low demand for services and poor returns on investment, which is limiting spending in the sector on recruitment and expansion, the latest CBI/PwC Financial Services Survey found.