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.
Summary of Quarter 4 2018
Domestic sales– We report divergence between the manufacturing and services sector in the last quarter of 2018. Following a period of domestic growth since Q2 17, this quarter manufacturers reported a slowing in the pace of growth. The service sector continues to report increasing domestic sales, which have trended upwards since the middle of 2016
Export sales– Manufacturing export sales also slowed in the last quarter of 2018 across our region following two quarters of strong growth. The service sector reported no chance on the previous quarter in the last three months of 2018.
Employment – Employment remains strong across the region with 60% of manufacturers and 48% of service sector companies attempting to recruit in Q4. Skills shortages remain a challenge and the time taken to fill vacancies has lengthened
Investment – Capital investment increased in the last quarter but remains low by historical standards.
Business confidence – Service sector confidence remains largely unchanged in the last quarter with the number of companies expecting to see increased profits down 2 points to +45%, however the this has been trending downwards since the beginning of 2018. Manufacturing confidence also slowed in the last three months for the second consecutive quarter.
Previous reports available below