UK Finance Sees Fastest Growth in 30 Years, Defying Gloomy Forecasts
Britain's financial services sector reports a surprise surge in activity, with the CBI survey showing a sharp turnaround from last year's downturn.
UK financial services companies have reported a strong recovery in activity at the start of the year, delivering a surprise boost to the government after a gloomy end to 2025. According to a long-running survey by the Confederation of British Industry (CBI), a lobby group, banks, insurers, and investment managers said their businesses were growing, with a positive balance of nearly two-thirds noting an expansion.
This contrasts sharply with the negative balance of 38% recorded in December, despite the start of the US-Israel war on Iran. The CBI's figures will be welcome news for Rachel Reeves, the UK Shadow Chancellor, as she seeks to hold the government accountable for its economic performance.
Source: The Guardian
