Regional chamber findings back improving national economic picture

ECONOMIC surveys released today by Yorkshire chambers of commerce support national findings that businesses are becoming more confident in their outlook.

Businesses across Bradford, Hull and the Humber and Sheffield City Region ended 2012 on an upward curve according to new figures.

The latest economic survey results revealed that more businesses were improving their sales and order books than earlier in the year.

All of the regional findings are fed into the British Chambers of Commerce (BCC) Quarterly Survey for the final three months of 2012 which shows almost all major balances improving and British businesses confident the economic outlook will improve in 2013.

Bradford Chamber’s quarterly economic survey has shown that more businesses trading both at home and abroad were turning over more sales and, as a result, turnover increased and confidence shifted up a notch too.

The findings have been cautiously welcomed by the Chamber’s president Stephen Wright.

“It’s nice to end the year on a high – even if it’s not the financial year.  We know that growth is happening, many companies are thriving and not just surviving, but the difficulties facing others are very real:  low sales, late payment, lack of finance.  It’s still a bumpy ride for many, so to get the feedback that more firms got more orders in is good for them, good for Bradford and good for the Chamber,” he said.

Nationally, the BCC figures released today show that the economy improved in the fourth quarter of 2012, with stronger balances seen in both the manufacturing and service sectors.

The new survey, made up of nearly 8,000 business responses, shows that UK firms are confident and ambitious, but also indicates that growth remains weak and there are still economic challenges ahead.

Dr Ian Kelly, Hull and Humber Chamber chief executive said: “Despite some high profile job losses announced recently this is a more positive set of economic results than we had expected in the run up to Christmas.
 
“After a concerning quarter three, we are pleased to see that local business confidence is climbing again and in that now the Government has put forward its Energy Bill, we are hopeful that much anticipated investment in our area will emerge.”

Richard Wright, executive director of Sheffield Chamber, said: “Looking back at the surveys during 2012, the only constant feature is that the figures continue to be inconsistent.

“Businesses are seeing a fluctuation in sales and orders in each quarter, which then has a knock-on effect with long-term developments, such as investments, training and employment.

“The responses in the Sheffield City Region do show an improvement compared with the low levels of 2011. However, the figures confirm the economy is flat and that whilst the economy was not as bad as the official figures at the beginning of the year, they are probably not as good as reported at the end.

“It is pleasing to see exports in the manufacturing sector reach one of the highest levels for a long time and hopefully this will continue.”

Commenting on the national results, John Longworth, BCC’s director general, urged the government to take bold and imaginative measures to boost growth that will help businesses of all sizes to deliver a lasting recovery throughout 2013 and beyond.

He added: “Our survey results show that the economy is making progress, despite the numerous challenges it has faced. Although the improvements we have seen are slight, it is progress nonetheless, and highlights the determination and ability of the businesses we have here in the UK.

“Despite rising business confidence that the outlook will improve, it is clear that economic growth remains weak and that nurturing it must be a top priority.”