STEP's latest global quarterly confidence survey shows that member confidence continues to recover strongly from last winters’ lows.
The STEP Near Term Confidence Index, which looks at the outlook over the next three months, has risen a further 10% this quarter, from 20 to 22. This index was -13 at the start of 2009. The STEP Longer Term Confidence Index, which looks at the outlook over the next 12 months, has similarly risen strongly, from 37 to 43, having begun 2009 at -2. The survey looks at members’ views across a wide range of jurisdictions and trust and estate businesses.
The Confidence Indices are constructed by taking the balance of survey respondents replying that they expect business to “improve” or “significantly improve” relative to those expecting business to “decline” or “decline significantly”.
STEP Chief Executive David Harvey said: “This continued rise in member confidence bodes well for the future of the trust and estate industry. It is particularly striking in the context of a broader economic recovery still widely seen as fragile and highlights the strong underlying growth in our sector. The momentum here is also reflected in STEP’s membership figures which rose by more than 10% in 2009 despite the global downturn.”
Findings of the 4th quarter STEP business confidence monitor can be accessed online
The STEP Near Term Confidence Index, which looks at the outlook over the next three months, has risen a further 10% this quarter, from 20 to 22. This index was -13 at the start of 2009. The STEP Longer Term Confidence Index, which looks at the outlook over the next 12 months, has similarly risen strongly, from 37 to 43, having begun 2009 at -2. The survey looks at members’ views across a wide range of jurisdictions and trust and estate businesses.
The Confidence Indices are constructed by taking the balance of survey respondents replying that they expect business to “improve” or “significantly improve” relative to those expecting business to “decline” or “decline significantly”.
STEP Chief Executive David Harvey said: “This continued rise in member confidence bodes well for the future of the trust and estate industry. It is particularly striking in the context of a broader economic recovery still widely seen as fragile and highlights the strong underlying growth in our sector. The momentum here is also reflected in STEP’s membership figures which rose by more than 10% in 2009 despite the global downturn.”
Findings of the 4th quarter STEP business confidence monitor can be accessed online
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