We are pleased to share with you the latest results from our Quarterly Economic Survey (QES) sponsored by Brabners, providing valuable insights into the current economic landscape affecting our community and industry.
While the QES results reveal the challenges many of our members are continuing to face – particularly around inflationary pressures and skilled workforce shortages – there is growth in exports for manufacturing which could indicate growth in the local economy.
Key findings include:
• Business confidence boosted in the manufacturing sector due to a slight increase in exports
• Manufacturing has increased investment in machinery and training
• Employment has increased in manufacturing yet remains stagnant in the service sector
• Cashflow continues to remain a concern for all sectors
• Businesses are bracing themselves for more tax rises in the Budget
In the largest survey of business sentiment ahead of the Budget next month, concerns remain over inflation and the future of business rates
Labour costs continue to top the charts for both sectors while concerns over rising utility prices remain high, as does recruitment headaches in the market.
We encourage you to review the full survey report attached for a detailed analysis. This data can inform your strategic planning and help identify potential areas for collaboration and support.
As always, our Chamber is committed to advocating on your behalf and providing resources to navigate these times. If you’d like to discuss specific challenges or explore available support programs, please don’t hesitate to reach out.
Read the full report here QES Q3 report
