Clarity will bring increased confidence, says Chamber chiefJan 03, 2019
Businesses, representing 85,000 employees across the county, were largely positive about their performance during the fourth quarter of 2018, reporting rises in domestic and overseas sales and orders.
Business confidence also remains strong with 64% of respondents expecting their turnover to increase during the next 12 months.
However, firms admitted that their investment intentions had slowed down and reported difficulties in finding suitable candidates to fill roles.
Northamptonshire Chamber of Commerce chief executive Paul Griffiths said: “Across the UK business confidence has been falling but overall the Northamptonshire economy remains largely optimistic, possibly as a result of the insulating effect of the county’s strong international operations.”
Northamptonshire Chamber’s QES is part of the biggest and most representative survey of its kind in the UK. QES data is used by the Bank of England to inform interest rate decisions, by the Treasury to help formulate economic policy and by international finance institutions to assess the UK’s economy
Mr Griffiths said: “Results this quarter remain largely positive with one or two signs that companies are remaining slightly cautious due to the economic climate and the future that Brexit holds.
“Businesses don’t like uncertainty so we would hope to see improvements once negotiations with the EU progress over the next quarter and through the course of 2019 as more clarity is provided which gives business the confidence to invest and grow.