Q2 Latest economic survey results

5 July 2013

Business boost in survey, says Bradford Chamber 

The latest economic survey from Bradford Chamber of Commerce shows some positive signs and an upturn in business confidence.

The quarterly report, based on members' feedback, says that there has been an uplift in positive feelings about future prospects within the local business community.  As part of a national information-gathering exercise overseen by the British Chambers of Commerce, local Chambers sound out their members on a fixed set of questions every three months.  The questions include whether or not sales and orders are better or worse than three months previous, future investment and recruitment plans, and outside pressures such as interest rates or other overheads.

President of Bradford Chamber, Stephen Wright, said:

"We're hearing a few more positive messages from businesses of late and that seems to be reflected in some of the findings of the survey.  It's still not all rosy in the garden: investment plans are still largely on hold and the labour market is not overly-buoyant but confidence has improved and nervousness has receded somewhat too - good signs that we want to see repeated next time.  It's also a good sign that local confidence levels are keeping up with or even stronger than regional and national levels.  It's still tough securing those orders but the findings show the resilience of Bradford's business community."

Key findings include:

- Exporters' sales and orders improved

- Confidence in turnover levels and profit expectations improved

- Domestic sales and orders were steady (i.e. neither up nor down)

- Investment plans and recruitment activity remains subdued

- Concerns about cost of external overheads remains high

- Bradford's results are mirrored nationally in the Chamber network

QES sponsor, Steven Gash, of chartered accountants Clough & Company, added:

"The survey remains a good barometer for determining the economic state of the local economy.  It not only reveals the pressures that businesses constantly have to cope with but it also demonstrates that Bradford is still an excellent place in which to be in business.  Help and advice is out there to help businesses with any issues through the Chamber services and other forms of business support"

The findings are provided to the Bank of England, who's regional agent meets regularly with Bradford Chamber's main policy-making group to exchange information and views.  The national data helps determine the decisions of the Bank's monetary policy committee on interest rates.

Call 01274 230057 for more information on Bradford Chamber surveys.