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Jersey's Finance Firms 'Poised For Growth'

by Jason Gorringe, Lowtax.net, London
29 January, 2016

Jersey's Statistics Unit has published the results of its recent Business Tendency Survey, with more finance sector businesses reporting being increasingly optimistic about the future.

The survey, which examined activity in the final quarter of 2015, showed financial services firms were more positive about future employment prospects than at any time since the survey started. Around 60 percent of businesses in the finance sector anticipate that they will increase employment over the next three months.

Sentiment surrounding increased business activity improved by 31 percent from the previous quarter, while almost 75 percent of businesses expect higher profits in 2016.

Geoff Cook, the CEO of Jersey Finance, said: "The fact that seven of the indicators in this survey have remained essentially unchanged since the previous quarter and that the overwhelming majority of indicators are positive reflects pleasing levels of both stability and confidence in Jersey's finance industry."

"There is a very optimistic outlook as far as employment and business activity are concerned, with the legal, fund and accountancy sectors still all positive on long-term employment. It is also pleasing that in the banking sector, which has seen considerable challenges globally, three-fifths of Jersey organizations are anticipating no change or an increase in job numbers over the course of the year. The indications are that firms large and small expect to remain busy and this is resulting in long-term positivity surrounding profits for the industry, which is clearly welcome news."

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