Investment levels stay robust in face of Brexit uncertainty, says Chamber surveyJan 03, 2019
The business barometer for the final quarter of 2018 boasted its greatest respondent rate this year for Q4, by companies employing over 1,300 people from across Milton Keynes.
Cash flow is up by one third and Milton Keynes has seen a growth in both investment in training and investment in machinery, bucking the national trend.
Firms are reporting solid performances on home turf too with a rise in UK sales activity.
- Pictured: Milton Keynes Chamber chief executive Paul Griffiths.
Domestic demand remained robust across the board with an increase of 12% compared to the previous quarter and a net balance of almost half of businesses recording a growth in sales and bookings.
There has been a further 12% increase in workforce growth over the last three months. However export orders continue to be volatile and two thirds of businesses have said they are working below capacity.
Uncertainty reigns where business confidence is concerned too as firms wait for further clarity on EU negotiations.
Milton Keynes Chamber of Commerce chief executive Paul 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 businesses the confidence to invest and grow.”
The Quarterly Economic Survey is a widely recognised key economic indicator by the Government, the Bank of England and independent economists alike. It also provides both central and local policymakers with an important source of feedback of the performance, concerns and views of business across the borough and, through the wider British Chambers of Commerce network, nationally.
“Despite the uncertainty, Milton Keynes businesses remain stable,” said Mr Griffiths.”While businesses aren’t overly positive about Brexit, firms will continue to work to innovate and grow whatever the political situation.”