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Supporting Business in the Hull and Humber Region

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03/10/2012

Quarterly Economic Survey, October 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 preview the Chamber's press release and comment on the results.


Key results from Quarter 3, 2012:

Sales and orders:

  • 35% of companies reported an increase in domestic sales, up on Q2 2012.  29% reported a decrease, down 2%.
  • 31% increased their domestic orders, equal to Q2.  29% reported a decrease, up 1%. 7
  • 4% increased their export sales, up 3%.  10% reported a decrease, up 1%.
  • 68% increased their export orders, equal to Q2.  14% reported a decrease, up 7%.  

For the next 3 months:

  • 26% of companies expect to increase their workforce, up 3%.  5% expect to decrease it, down 3%.
  • 32% of companies expect to increase their prices, up 9%.  4% expect to decrease them, down 2%.  

In the last 3 months:

  • The proportion of businesses which recruited was 47%, equal to last quarter.
  • 12% reported an increase in cashflow, down 10%, and 35% a decrease, up 5%.
  • 24% increased their investment plans for plant & machinery (down 8%).  23% increased their investment plans for training (down 1%).  

For the next 12 months:

  • 48% expect to increase their turnover, down 4%; 17% expect it to decrease, down 6%.
  • 41% expect their profitability to improve, down 1%; those who expect it to worsen increased by 8% to 33%.  

Pressures:

  • The cost of overheads remained the top pressure on prices (49%), followed by the cost of raw materials (36%).
  • Inflation (51%), competition (32%), tax (32%) and business rates (27%) top businesses’ list of external concerns.



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