Most of the responses to the quarterly States business tendency survey were unchanged, although more firms reported a recent drop in the number of employees.
The survey from the statistics unit also shows that nearly half of financial services companies taking part anticipate increased employment and profits by the end of the year, with the accountancy, legal and funds firms the most positive and banks the most negative.
The three-month shapshot of ten key factors – including profitability, optimism, input costs and product prices – follows on from a very strong previous quarter showing the highest activity across all sectors since 2009.
Chief executives and managing directors of a sample of private sector businesses were asked for their opinions on their current situation, compared to three months previously, and their expectations for the next three months. Of 497 questionnaires sent out, 311 were returned, accounting for over 46% of private sector employment in the Island.
Jersey Chamber of Commerce chief executive James Morris said: ‘It is pleasing to see that the overall levels of confidence and optimism remain positive across the all-sector index, which is very much in line with the results obtained from an extensive survey the Chamber conducted among its members earlier this year.
However, Mr Morris said that in terms of employment, the statistics contained a ‘cautionary note’ in terms of future employment, particularly the more negative outlook from the banking sector and non-finance sub-sectors.
‘Clearly that is the area that requires close attention,’ he said.
The survey also included additional questions on future expectations in the finance industry, which show that two-fifths of companies anticipated an increase in jobs by September, but 37% of the banking sub-sector believed short-term employment would decrease. Longer term, 49% reported an expected increase in employment and again banking was the most negative, with 58% of those asked expecting a decrease.
Geoff Cook, the chief executive of Jersey Finance, said: ‘It is always difficult to draw too many conclusions from a three-month period alone, but the fact that attitudes within the industry are consistent on the last quarter reflect a welcome degree of stability.’
Economic Development Minister Lyndon Farnham said: ‘The headline rate of business activity is very slightly below the last quarter, but still up there, given that the last quarter was the highest since 2009.
‘Construction is slightly less positive, and there’s no obvious explanation for that, although all the debate over the finance centre development may have caused a little bit of volatility.
‘Although these figures are positive, it does highlight that rebuilding of the economy will be a slow and steady operation’ the minister added.
