Export dip but confidence undented

Overseas sales may have dwindled but strangely this has not damaged business confidence, according to Bradford Chamber’s latest Quarterly Economic Survey. Nor has the apparent downturn in manufacturing.

The survey reveals that many exporters are continuing to battle with austerity and that overseas orders have become more scarce. The situation has worsened throughout the year with more firms than previously reporting thinner order books. This has led to a reduction in investment. Most firms do not expect to substantially increase their workforces this year.

“While it's disappointing that more firms are not yet filling their order books, the saving grace is that there's no build-up of pressure on them to raise their prices just yet,” said President of Bradford Chamber, Stephen Wright. “Such a situation cannot continue indefinitely though - more stimulants for growth need to be found by those controlling the levers of power. Government is calling for jobs to be created in the private sector but we cannot do that without greater demand for our products and services.”