BUSINESS REPORT QES SHOWS REGION ON THE UP
Sales for manufacturers have bounced back and county firms have increased the size of their workforces according to the latest Quarterly Economic Survey from the Northamptonshire Chamber of Commerce. The report, which covers the
three months from October to December 2016, reveals 74% of manufacturing firms reported that sales had either increased or remained the same compared to the previous quarter. Research into export sales activity
showed 87% of manufacturing businesses and 70% of service sector firms said export sales during the fourth quarter of 2016 were the same as Q3 or had increased. In total 54% of services sector
businesses reported that UK sales remained in line with the previous quarter. Only 16% of services sector businesses reported a decline in UK sales during the fourth quarter. Encouragingly manufacturers
and the services sector revealed they had increased their headcount during Q4. Manufacturers reported their second consecutive quarterly increase in employee headcount with the balance figure of 24%, the highest level recorded in 2016.
Looking ahead the service sector is expected to outperform manufacturers in terms of hiring staff during the next quarter. Manufacturers and the services
sector also reported an improvement in investment during the fourth quarter. In total 33% of
manufacturers reported increased investment in plant/machinery and 95% revealed their investment in training had either remained the same or increased in Q4. Northamptonshire
Chamber of Commerce chief executive Paul Griffiths said: “It’s reassuring to see now that the immediate dust has settled from the fallout of the EU referendum vote, businesses across the county have adopted a ‘business as usual’ approach. “With around a fifth of service
sector businesses investing in plant/machinery over the quarter coupled with the majority maintaining the same level of investment in their workforce it’s evident that the sector is taking long term approach whist riding out the current waves of uncertainty.”
Export sales were especially encouraging in Q4 2016
6 inbusiness FEBRUARY/MARCH 2017
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