The Quarterly Economic Survey

The Chamber’s Quarterly Economic Survey monitors economic trends and takes the business temperature, accurately and comprehensively, in a range of areas relevant to our members across West & North Yorkshire. The quarterly report is read by, and relied upon by policy makers across our region.

Survey Summary (Q3 2019)

Domestic sales and orders – UK sales slowed across the region in the last quarter. Manufacturing companies in particular reported significant slowdown in the three months to September.

Export sales and orders – Manufacturing exports also took a hit with net balance at similar levels to that seen in Q2 2016, just before the EU referendum. Service sector businesses saw international sales improve in the last quarter.

Employment – Manufacturing hiring intentions slowed in the last quarter with the number of companies reporting an increased headcount down to its lowest level since the EU referendum also. Just 1 in 2 companies across our region reported recruitment activity in the last quarter; this is down on previous quarters.

Investment – Manufacturing investment intentions trend downwards once more, to the lowest level we have reported in over 10 years as companies sit on their hands awaiting the outcome of Brexit. Service sector businesses were less cautious but the level remains close to its lowest point since the end of 2017.

Business confidence – This quarter sees expectations of increasing turnover fall across the region for all sectors to their lowest point in 7 years. Profit expectations for the next 12 months also continue to slow, with the service sector reporting a decrease in net balance for the seventh consecutive quarter.

Download the full report here (Q3 2019)

Previous reports available below

 

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