2017.09.2504:06:00UTC+00British Financial Services Firms Remain Pessimistic in the Third Quarter

Optimism about the business environment among the U.K.'s financial services companies dropped once again in the third quarter of 2017, the longest streak of declining sentiment since the global financial crisis, according to a recent survey.

The recent quarterly survey of 94 financial services firms by business lobby CBI and consultancy PwC showed that sentiment regarding Britain's overall business climate have declined, with banks and building societies particularly pessimistic.

Morale in the financial service sector currently dropped in six of the last seven quarters.

The uncertainty surrounding Britain's future trading relationship with the European Union continues to add pressure on the industry. The U.K. will have to negotiate new trading terms and it is unlikely for banks to maintain access to sell their services and serve clients across the euro bloc.

The job market remained stable during the previous quarter and companies are expected to raise the pace of hiring over the upcoming quarter, according to the survey.

Prime Minister Theresa May said that Britain should remain in the EU's single market during the two-year transition out of the bloc while providing concessions on a separation deal as she called for a revival of Brexit talks.