Mid Yorkshire Economy Strengthens as Firms Invest and Grow
This Quarter’s Mid Yorkshire Economic Survey indicates growing confidence among firms as sales in domestic and overseas markets grow. Employment figures have also strengthened and companies report buoyant expectations for both turnover and profitability. However, issues around access to finance and taxation continue to cause concern for many businesses, and some uncertainty remains over the impact of national government policy and the wider economic environment as crisis continues to threaten in both the United States and the Eurozone. However, the determination of Mid Yorkshire firms to grow is evident and it is clear that confidence is returning.
Chamber Head of Policy Steven Leigh commented:
It is clear from the responses to this Quarter’s survey that optimism is returning to our region. Domestic Sales and Orders, Export Orders, Employment, Investment, and Confidence are all in positive territory and businesses appear to be signalling serious determination to resume a growth agenda. This coincides with broader economic trends which are being reported at national level, and it is encouraging that our own region’s figures are starting to herald the onset of economic recovery. It is particularly pleasing to see that Business Confidence sentiments have immediately recovered from the disappointing figures which were reported last Quarter, and although confidence is likely to remain fragile until there is more sustained momentum in our economic recovery, these are nonetheless encouraging signs.