Financial services sector

Financial services sector fears UK growth will drop behind G7




The financial services industry is worried that economic growth in 2018 will be weaker in the UK than in all other G7 nations, a survey has revealed.

The latest edition of the financial institutions sentiment survey by Lloyds Bank Commercial Banking has found that 70% of financial services firms held this view, a dramatic increase on the 23% recorded in 2017.

Robina Barker Bennett, managing director, head of financial institutions at Lloyds Bank Commercial Banking, said: “Fears about Brexit are looming large as the final countdown begins to March 2019, but our survey suggests that the UK economy will prove to be resilient and that it will come through the challenges of the next few months relatively unscathed.

“There is, however, a real risk that our growth will be slower this year than in all other advanced nations; and that we will fall to the back of the G7 pack.”

Leave a comment