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Jersey Finance Sector Increasingly Optimistic: Survey

by Amanda Banks, Lowtax.net, London
13 February, 2018

Jersey's latest Business Tendency Survey for the quarter ending December 2017 was broadly positive, with similar expectations for the three months ahead.

The Survey, covering private sector businesses in Jersey, asked chief executives or managing directors for their opinions on the current situation of their business compared to three months earlier and their expectations for the next three months.

The Survey's December 2017 headline all-sector business activity indicator showed the proportion of businesses reporting an increase in activity was 12 percentage points greater than those reporting a decrease.

The new business and business optimism indicators were both positive and improved from last quarter. Also up was the business optimism indicator, which showed that a quarter (27 percent) of companies are more optimistic, compared with eight percent who were less optimistic.

The profitability indicator was strongly positive (31 percent) for the finance sector, but negative for all other sectors, especially the wholesale and retail sectors.

The finance sector was significantly more positive than the non-finance sector in every indicator, and nine of the ten indicators were more than 20 percent higher for the finance sector.

The outlook for business activity over the next three months is strongly positive, with the finance sector being much more positive than other sectors. Four-fifths (82 percent) of companies in the finance sector are expecting increased profits for 2018, and two-thirds (66 percent) are expecting to increase employment.

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