Businesses look to turnover increase as survey reveals restored confidenceApr 15, 2018
In total 63% of manufacturers were confident their turnover would increase during the next 12 months – up from just 18% in the last quarter of 2017.
Meanwhile 56% of service sector firms also expect to see an improvement, continuing the longstanding trend for business confidence in this sector.
Other highlights included a rise in domestic sales and employment expectations for both sectors and a rise in export sales and investment in training for manufacturers.
Fewer businesses across the board felt they would need to increase their prices in the following three months.
However, both sectors reported a reduction in employment growth and fewer service sector businesses said they had invested in training in the first quarter of 2018.
Northamptonshire Chamber chief executive Paul Griffiths said: “There are some positive findings in this report and it was particularly reassuring to see that the dip in confidence reported by manufacturers at the end of 2017 has recovered.
“More progress like this will help our region to weather any forthcoming international economic turbulence.”
Northamptonshire Chamber’s Quarterly Economic Survey is part of the largest and most representative survey of its kind in the UK and provides central and local policymakers with feedback of the performance, concerns and views of businesses across Northamptonshire.
To read the full report visit www.northants-chamber.co.uk/representation/quarterly-economic-surveys
- More than 50 firms responded to the survey which examined the performance of businesses during the first quarter of 2018.