QES REMAINS A VITAL TOOL DURING THESE TRYING TIMES
Unsurprisingly, there is no good news in the latest Quarterly Economic Survey (QES). QES Q2 fieldwork was carried out between the 18th May 2020 to 8th
June 2020, and covered the period when the UK was in full lockdown owing to the Covid-19 pandemic. An important piece of work in normal times, it has become vital in
assessing the impact of this unprecedented situation. By every measurable metric, businesses in Milton Keynes are suffering, not unexpectedly, from the onset of COVID-19. The business environment is clearly one of the most difficult in living
memory; however, the results of this survey are hugely important both in comparison with previous quarters and as the entire country looks forward to any future economic recovery. As the true scale of the Coronavirus began to take shape, the Milton
Keynes Chamber set up a dedicated hotline which over the last few months has answered hundreds of questions from members, whilst collating information on the problems and challenges being faced. At the time of going to print the hotline remains open, and can be
contacted on 01604 490 414. Issues raised by members have been passed up to the Policy team at the British Chambers of Commerce, who have used it to lobby the government for, and get changes and improvements to, their support mechanisms. Data from Milton Keynes QES is used by the Treasury, the Department for Business, Energy and Industrial Strategy and the Bank of England.
MILTON KEYNES CHAMBER keeps its members up to date with all the latest business news. Whether it’s through the pages of this magazine, our website or regular email updates, we will always endeavour to keep you in the picture and informed
DOMESTIC DEMAND This quarter saw a substantial decrease in both domestic sales and orders.
OVERSEAS SALES AND ORDERS Overseas sales and overseas orders both fell significantly.
EMPLOYMENT Businesses reported little growth in employment with a sizeable number reporting falls in workforce numbers.
BUSINESS CONFIDENCE AND INVESTMENT Business confidence plunged to previously unseen lows.
4 inbusinessAUGUST/SEPTEMBER 2020
Being a Chamber member means that your voice can be heard at the very heart of Government. Although it’s impossible to predict the
future and everyone must remain vigilant against the possibility of a second wave of the Coronavirus, at the time of going to print, the very beginnings of measures easing the lockdown are coming into place. n the coming weeks firms will hopefully be able to turn their minds from just surviving towards stabilising and finally growing again. Now more than ever the Milton Keynes Chamber will champion and
‘MILTON KEYNES CHAMBER WILL CHAMPION AND REPRESENT THE VOICE OF LOCAL BUSINESS’
represent the voice of local business, and support every member to rise to the challenges posed by Coronavirus. The next QES will be open 24th August – 14th September, and will be
vital in continuing to assess not only the impact of the pandemic, but the success of recovery efforts to date. The staff at the Chamber wishes everyone the very best in their health and personal wellbeing.
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