CHAMBER NEWS
Region’s businesses look for greater certainty in 2020
Findings from the Quarterly Economic Survey for Q4 2019 are again characterised by long- running uncertainty, resulting in another mixed picture across the region, the latest data from the Chamber suggests. Advanced orders/bookings
struggled in the final quarter, particularly in the manufacturing sector, while any growth in overseas activity remained modest or stable. Longer-term confidence
softened quarter-on-quarter for turnover expectations and remained flat for profitability. There was an increase in those seeing their workforce grow, however there was a decrease in those expecting to grow employee numbers over the coming quarter. Meanwhile, there was a sharp
increase in those experiencing the perennial issue of sourcing and recruiting the right employees; especially in unskilled or semi- skilled roles. However, Q4 delivered reasons
for optimism ahead of a year that should offer a more stable and certain business climate.
Following a poor Q3, sales
activity improved towards the end of the year, while cashflow recovered, returning to positive territory.
‘The year ended much as it had started; with uncertainty again characterising the results of the survey’
Encouragingly, there were
tentative signs of positive investment intentions, as the contraction of Q3 gave way to a more positive picture of businesses looking to invest heading into 2020.
Chris Hobson, Director of Policy
at the Chamber, said: “The year ended much as it had started; with uncertainty again characterising the results of the survey. At the time the survey was live, for example, the country was in the midst of a snap general election, while Boris Johnson’s Withdrawal Bill had yet to be passed. “Such uncertainty had a material
Chris Hobson
impact on the decisions taken by customers and business owners alike and undoubtedly impacted on the sentiment within QES Q4. “With 2020 underway,
businesses have more certainty – the EU exit date of 31 January has been realised and the country has a Government with a healthy majority; it will be interesting to see how a more stable political climate impacts findings for Q1 2020. “There are strong messages
coming out of Downing Street around the need to ‘level-up’ and support regions of the country – like the East Midlands – that have previously not benefited as
strongly from Government investment and focus. A key early test for what this means in practical terms comes on 11 March, with the Treasury’s Budget. “If Government uses this opportunity to address some of the bread and butter issues that frustrate on a day-to-day basis, this would give businesses a real and immediate boost - acting to support them through a year where uncertainty on our future relationships and ways of working with key trading partners will continue to exist.”
Please visit
http://bit.ly/EMC- Q42019 to view the report in full.
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