.jpg)
TheCityUK's UK Competitiveness Tracker reviews the movement in a comprehensive range of financial services indicators as well as broader indicators of UK competitiveness that impact on the UK's position as a leading international financial centre.
The Tracker continued an upward trend in Q2 2014, albeit at a slower pace. This was the seventh consecutive quarter of increase, with eight indicators up and seven down. The recovery was more evident over the long term, with thirteen indicators rising and only three falling in the 12 months to June.
Financial services firms in the UK reported a continuing improvement in business volumes in Q2. Confidence is strong across all sub-sectors as the industry prepares itself for further growth. Lenders reported that credit availability for small business and medium sized companies was unchanged in Q2, but availability for large corporates increased slightly.
Employment indicators were mixed in Q2 following strong increases in the previous two quarters. As firms start to think about growth after years of restructuring, TheCityUK expects a further recovery in employment.
Office space take up and occupancy rates in the Square Mile were up. In fact, office occupancy is at its highest since the start of the economic downturn.
Confidence is strong in the industry and while there is continued optimism about prospects for the UK economy, the Competitiveness Tracker should see another rise in Q3.
Click here to download PDF of report.
