Welcome to Hull & Humber Chamber of Commerce, Industry & Shipping

Supporting Business in the Hull and Humber Region

Contact us: 01482 324976 / 01472 342981

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05/07/2012

Quarterly Economic Survey, July 2012

The QES is the largest survey of its kind in the region and, by working with other Chambers, the country. The results are used by the Government to help formulate economic policy and by the Bank of England's Monetary Policy Committee, which sets interest rates.

All Chamber members are invited to complete the survey every quarter.


Download the report:

Click here to download the full report.


Press release and comment:

Click here to view the Chamber's press release and comment on the reults.


Key results from Quarter 1 of 2012:

Sales and orders:

  • 28% of companies reported an increase in domestic sales, down 13% on Q1 2012. 
  • 31% reported a decrease, up 11%. 31% increased their domestic orders, up 1%.  28% reported a decrease, up 7%.
  • 71% increased their export sales, up 24%.  9% reported a decrease, down 2%.
  • 68% increased their export orders, up 21%.  7% reported a decrease, down 9%.  

For the next 3 months:

  • 23% of companies expect to increase their workforce, down 2%.  8% expect to decrease it, down 2%.
  • 23% of companies expect to increase their prices, up 6%.  6% expect to decrease them, down 2%.  

In the last 3 months:

  • The proportion of businesses which recruited was down 1%, to 47%.
  • 22% reported an increase in cashflow, down 3%, and 30% a decrease, up 9%.
  • 32% increased their investment plans for plant & machinery (up 7%). 
  • 24% increased their investment plans for training (down 1%).  

For the next 12 months:

  • 52% expect to increase their turnover, down 2%; 23% expect it to decrease, up 10%.
  • 42% expect their profitability to improve, up 3%; those who expect it to worsen decreased by 4% to 25%.  

Pressures:

  • The cost of overheads remained the top pressure on prices (54%), followed by the cost of raw materials (25%) closely followed by pay settlements (22%).
  • Inflation (47%), business rates (32%), competition (29%) and tax (29%) top businesses’ list of external concerns.

For further information:

Please contact Hannah Crookes via
email.

To view national results from British chambers of Commerce, please use the following
link.



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