Mixed signs on international trade in BCC post-Brexit vote survey

12 October 2016

 

British manufactures reported export sales rising at a balance of +17 at the end of Q3 2016, from a rating of  +9 in Q2, according to the latest British Chambers of Commerce (BCC) Quarterly Economic Survey. The balance of services firms reporting better sales fell from +11 in Q2 2016 to +8 in Q3, while the balance of firms reporting an increase in advance orders fell further, from +13 to +5. Businesses in both sectors say that the exchange rate is a greater concern than three months ago. This applies to 30% of services businesses (up from 15%) and 48% of manufacturers (up from 35%).

BCC acting director general, Dr Adam Marshall, said: “While many manufacturers have seen something of a bounce this summer, the UK's services sector has slowed significantly, and our data suggests that slower growth is likely in the months ahead.” 

 

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