The Society of Trust and Estate Practitioners’ (STEP) latest global quarterly confidence survey shows confidence remains high in both the immediate and long term outlooks for the industry.
The STEP Near Term Confidence Index, which looks at the outlook over the next three months, remains at 11, which means this measure has now remained unchanged for four consecutive quarters. 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, remains steady on 32, resulting in the most positive three consecutive quarters recorded on STEP’s index since the beginning of 2010.
STEP Chief Executive David Harvey said: “These survey results show our membership has confidence about the long term outlook for trust and estate business, but are still wary of changes to the economy in the short term.”
The quarterly confidence 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”.
Findings of the 1st quarter 2012 STEP Business Confidence Monitor can be accessed online at:
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