Last month’s Quarterly Economic Survey gave us a mixed bag of results from Q4 of 2023 so keep an eye on your inboxes from 12th February as we go again.
Fieldwork for Q1 starts in just over a week’s time when hundreds of businesses get the chance to have their say on what’s happening in their eco-system.
The flagship Quarterly Economic Survey (QES) offers unparalleled insight into the state of UK business and the overall health of the UK economy. Through this survey, UK businesses are asked to provide feedback on various indicators each quarter, including sales, exports, cash flow, investment, and recruitment, as well as the top issues of concern.
Comprising three distinct publications, the QES provides a comprehensive overview of UK business conditions:
1. The Quarterly Economic Survey: This publication offers an essential overview of UK business conditions, capturing a broad spectrum of data that reflects the current economic landscape.
2. The Quarterly Recruitment Outlook: This segment focuses on the proportion of firms attempting to recruit and assesses whether they encounter challenges in doing so, providing valuable insights into the labour market dynamics.
3. The Trade Confidence Outlook: This publication analyzes whether UK exporters report changes in exports and sales each quarter, shedding light on the performance of UK businesses in international markets.
As the largest and most representative independent business survey in the UK, the QES holds significant sway among policymakers, including the Treasury, the Bank of England, and the Office of Budget Responsibility. Furthermore, it garners substantial media attention, reflecting its importance as a reliable barometer of the UK economy.
The insights gleaned from the QES not only inform key decision-makers but also guide businesses in their strategic planning and decision-making processes. By providing a comprehensive understanding of business conditions and trends, the QES plays a crucial role in shaping economic policies and driving informed discussions on the future trajectory of the UK economy.