Signs of recovery from finance but other sectors still suffer

Wednesday 23rd January 2013, 3:00PM GMT.

Jersey finance chief executive Geoff Cook

AFTER months in the doldrums, the finance industry is finally showing signs of recovery, figures released today reveal.

However, the information released by the States Statistics Unit shows that the position of the construction and retail sectors remains very gloomy.

Not only have finance firms reported an increase in work for the first time in a year, they are also enjoying better profits than they were in December 2011.

Jersey Finance say the latest figures contained in the Jersey Business Tendency Survey about the prospects for the finance industry are encouraging.

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1
James Wiley

January 23, 2013 at 3:49 pm

Better profits because they have generated additional revenue or better profits because they have cut staff and therefore costs?

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- Mario
  
  January 23, 2013 at 7:06 pm
  
  I’d go with cutting jobs.
  
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2
Just a local

January 24, 2013 at 11:05 am

What other sectors? There is the finance industry and there are those that service the finance industry. Construction is barely a full blown industry anymore and retail is a service led operation. Until Jersey gets some diversity in the economic mix, there will not be the growth or jobs creation that could potentially be seen.

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- James Wiley
  
  January 26, 2013 at 11:02 am
  
  On the contrary there is one sector which is positively booming – the Civil Service.
  
  That it comes at the cost of destroying the rest of the economy is irrelevant.
  
  Very soon we shall have a bureaucratic utopia of efficiency, once all the private sector is expelled from Jersey.
  
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