Every quarter businesses have the opportunity to complete the Quarterly Economic Survey (QES). This survey is distributed by all 53 Chambers of Commerce throughout the UK. The QES is the country's largest business survey and is recognised by national government and the Bank of England's Monetary Policy Committee as the most reliable forecaster of future economic trends.
The information provided in the survey is vital for enabling local companies to explain how the current economic climate is impacting on business.
- Business confidence (the expectation for profitability to improve/worsen) in the borough has slipped back from +54% to +45% after rocketing over the last six months. Doncaster businesses are still significantly more confident than regional and national averages indicating that there are encouraging signs for the local economy; the service sector remains more bullish than the manufacturing sector.
- The balance of businesses recording an improvement/worsening in home sales has improved again and now sits at +26%, this is the highest it has been for two years and the most concrete indication yet of improved economic conditions in the borough.
- Encouragingly, cash flow in Doncaster has improved and, at +8%, is in positive territory for the first time since Q1 2008. There is however a big discrepancy between the service and manufacturing sectors with local manufacturing businesses still seemingly starved of cash.
- The balance of businesses expecting to increase/reduce staff numbers over the net three months now sits at +15%; this is consistent with the previous quarter and is perhaps indicative of growing stability in the labour market.
- Export results are very encouraging with +26% of exporters reporting an upturn in actual sales and +23% reporting an increase in advance orders.
The full report for the fourth quarter will be available shortly.
The Quarter 1, 2010 Report is now live, this can be completed at:
www.britishchambers.org.uk/qes
Password: economy
Chamber ID number: 43
