The latest Chamber Quarterly Economic Survey (Q2 2016) released this week shows that in the run up to the EU referendum, uncertainty about the future was influencing key decisions. Despite these internal challenges, manufacturers were a little more upbeat than their service sector counterparts, reporting increases in domestic sales, small increases in investment and increasing confidence around profitability over the next twelve months.
The number of companies reporting growth in export sales fell but nevertheless remains positive. This is an area of significant interest for the Chamber given the role we play in supporting manufacturing exporters and we will be working with Government on this agenda moving forward.
The next twelve months will no doubt be challenging but the UK remains a strong economy and we must press to ensure clarity and certainty over our future trading arrangements both inside and outside of the EU. Similarly we need to hear commitment from Government that planned investment into the region’s infrastructure will continue unchanged.
The Chamber will continue to bang the drum on your behalf and ensure politicians and policy makers have access to regional business sentiment. A copy of the full report, analysis and comment can be found at here.