A report from CBI in Britain has revealed that the financial services sector of Britain is recovering from a slump in the final quarter of 2010. This is happening despite the controversy over the payment of bonus.

The faltering economy finally had a sigh of relief after the employers' group's data was out. The last week of December had seen the service sector of the economy in tatters. 50 percent of the financial services business according to the CBI registered an upward trend whereas 23 percent registers a decline.

In the third quarter the positive figures were of 28 percent. Since financial services are not affected by the weather, there was a great improvement noticed in the sector in terms of volumes.

The profits however, grew at a very slackening pace which can be regarded as the slowest of the last 18 months. In the first three months of the year, the analysts had predicted slow growth in volumes which quite turned out to be true.

UK now hopes to gather momentum on its growth fronts and is in talking terms with China for further improvement.