The uninspiring Norfolk results seen in the last the Quarterly Economic survey findings reflected the fact that political uncertainty, currency fluctuations and the vagaries of the Brexit process were continuing to weigh on Norfolk business growth prospects.
We are now entering the fourth quarter – how are businesses reacting to the current economic climate? Today (Monday 06 November 2017) is the first day of the fieldwork period for the Q4 Quarterly Economic Survey (QES).
It is more important than ever that as many Norfolk businesses as possible complete the survey.
The QES is the largest independent business survey in the UK and is used by both the Bank of England and the Chancellor of the Exchequer to plan the future of the UK economy. It is also closely watched by the International Monetary Fund.
You can have your say by completing the QES online NOW, which takes less than 3 minutes. The completion deadline for this survey is midnight on Monday 27 November 2017.
Some key Norfolk findings in the Q3 2017 survey:
Norfolk manufacturing sector
- The balance of firms reporting increased export sales and orders rose
- The percentage balance of manufacturing firms expecting the price of their goods to increase over the next three months fell in the last quarter, despite the cost of raw materials still being a key concern to most manufacturers.
- Concerns over exchange rates has spiked
- Confidence in the manufacturing sector rose slightly, with many firms confident that profitability will increase over the next 12 months
Norfolk services sector:
- Exports remained fairly flat, with the balance reporting static. The balance for domestic sales also remained static
- The percentage balance of services firms expecting the price of their goods to increase over the next three months remained rose
- Confidence remains static within the service sector
