Overseas activity grows despite Brexit uncertainty, Chamber survey findsOct 09, 2019
RESILIENCE is the key word for businesses in Milton Keynes as the uncertainty surrounding Brexit continues.
The results of the latest Quarterly Economic Survey carried out by by Milton Keynes Chamber of Commerce for quarter three of 2019 reveal a rise in overseas activity and good news for domestic sales and orders.
Businesses also reported workforce growth of 18%, while 28% of businesses anticipate increasing their workforce in the next three months. However, more than half of the businesses that tried to recruit struggled to find suitable staff during Q3 and nearly 70% of respondents say they continue to operate at below capacity.
Milton Keynes Chamber chief executive Paul Griffiths said: “The latest QES goes to show the resilience and positive attitudes of the Milton Keynes business community.
“Following on from the last quarter, Milton Keynes-based businesses have continued to see an increase in overseas activity in Q3 with demand for both overseas sales and orders rising. This quarter also saw a healthy increase in capital investment and investment in training plans.
“In the next few quarters, business confidence and investment expectations are expected to improve as the economy adjusts to new trading relations with the EU.
“Milton Keynes Chamber will continue to feed these results to local and central policy makers to ensure they have an accurate and unique insight into the performance, concerns and views of businesses across the city.”
Milton Keynes 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.
To read the full report visit www.chambermk.co.uk/representation/quarterly-economic-surveys