Region's firms report growing confidence

Published 8th Apr 2014 by Events

Our latest survey shows exports, confidence and investment all improving as recovery gathers pace

The Mid Yorkshire Chamber's Quarterly Economic Survey for the first quarter of 2014 is now available.

The survey shows growing confidence among our region's firms, with export orders and investment particularly buoyant.

However, Business Rates remain an issue for many businesses and raw material price pressures continue to burden manufacturing firms.

Business confidence remains bullish, with turnover and profit expectations running at levels not reported for some years, and our survey reports a welcome revival of Cashflow Balances, which continued to rally for most companies.

The first Quarter of the year also marked a reported increase in Investment - both in Training and on Capital Projects. Businesses in our region are still concerned however about continued inflationary effects, with Raw Material costs the primary concern for the manufacturing sector. Overall, the results are positive and encouraging, and certainly in line with forecasts for a return to more sustainable economic growth during the course of the year ahead.

Head of Policy Steven Leigh commented:

"We hope that the positivity evident in this quarter’s survey will be maintained throughout the year. Clearly the global recovery remains finely balanced. However, there are also great opportunities for UK firms, and renewed domestic levels of confidence in the economic outlook should help to encourage businesses to expand, take on staff, develop new products and explore new markets.

As ever, the Chamber will be here to support you."

Read the full survey report.

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