Quarterly Economic Survey
The Quarterly Economic Survey is one of the longest running and widest scoping business surveys in the UK. It provides a useful picture of the state of business in the UK at a national, regional and local level.
Nationally, tens of thousands of businesses answer the survey, and this is the opportunity to be part of that.
We ask a mix of standing questions which give a perspective of how trade, labour, business confidence and other metrics have fluctuated. We also ask specific questions each quarter on hot topics that members are interested in, including AI, the impact of global conflicts and the Covid-19 pandemic.
From there, we present this data to local councils, combined authorities and it forms part of the picture that goes to national government with the wider British Chambers of Commerce.
On this page, you will find links to previous Quarterly Economic Surveys, to see the details of what businesses tell us.
Q2 2024 Executive Summary
Domestic sales
One of the real success stories of the latest QES is the continued growth in UK sales. Manufacturers built on their previous growth trajectory by growing sales by 17 per cent while service sector firms grew by two per cent.
Export sales
Manufacturers posted another quarter of growth growing overseas sales by 11 per cent. Service sector firms fell backwards by 14 points, but order books look more positive.
Employment
Service sector firms saw their growth in the last six months fall back with a 12 point decline in hiring over the last six months. Meanwhile, manufacturers saw their hiring soar during the previous quarter. Hiring intent across the two sectors continues to look flat.
Investment
Manufacturing firms are increasing the amount of time they are spending on staff training. However, the appetite for capital investment has waned across both sectors, albeit only marginally for service sector businesses.
Business confidence
The optimism seen at the start of the year has begun to roll back with firms revising down their expectations on revenues. The number of firms expecting to grow their profits flatlined for manufacturing and declined for service sector firms for the first time in six months.
Business costs and concerns
Inflation and interest rates remain the most pressing external concerns facing businesses while the cost of labour remains the chief price pressure.
