Jersey

Jersey finance industry 'recovering faster'

A survey of Jersey businesses in March showed an average 6% decline in business activity on the previous three months.

But the finance sector, which accounts for about 60% of the island's economy, experienced a 26% increase.

The Business Tendency Survey, run by the States, was set up to provide information on the island's economy.

The survey covered companies employing almost half of all private sector employees in Jersey.

The survey asks the chief executive or managing director of sampled businesses for their opinions on the current situation of their business compared to three months previously.

It also for their expectations for the next three months.

The survey looks at a number of indicators across Jersey business including input costs, profitability and employment.

Non-finance businesses in Jersey struggled on nine of the 10 questions about their success.

Small businesses fared worse than large ones.

Most businesses said they expected wages to stay the same this year, but more than a third said they anticipated a rise.

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