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Jersey Finance Industry Growing Steadily

by Jason Gorringe, Lowtax.net, London
19 April, 2016

The latest Business Tendency Survey for the quarter ending March 2016 shows that new business for Jersey's finance industry has returned to the strongly positive level seen in the first half of 2015.

Other indicators for the finance industry were mixed with two of the indicators improving, three declining, and five remaining relatively unchanged compared with the previous quarter.

The headline all-sector Business Activity Indicator showed that the proportion of businesses in Jersey reporting an increase in business activity, compared with three months previously, was seven percentage points greater than the proportion reporting a decrease. The all-sector Business Activity indicator was less positive than in December 2015.

Geoff Cook, CEO of Jersey Finance, said: "Overall, the latest indicators in this survey for the finance industry paint a largely unchanged, stable and sustained picture. Importantly, however, it is pleasing that the industry is reporting strong business flows, with more than 90 percent of finance firms seeing the same or greater levels of business compared to the previous three months, whilst new business is at the highest level for the past two years."

"In addition, around one third of businesses anticipate an increase in future business flows and one fifth of firms expect job growth this year, which is positive for the local economy and sends out a strong message to the international community about the confidence there is in Jersey."

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