Going through a bad patch.
A succession of large-scale disasters has led to a difficult few months for the industry. In the first in a new series of quarterly market reports, Keith Byrne looks at how they are making an impact.
There is no doubt that the terrorist attacks of 11 September have hadfar-reaching consequences, particularly on the economy. Lower interest
rates seem to have boosted customer confidence, resulting in high levels
of consumer borrowing fuelling the already buoyant housing market.
According to the Confederation of British Industry, since 11 September 42%
of companies within the UK financial services industry have seen business
volumes drop, while 34% report a rise in volumes. The aggregate of 8%
mea
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