Quarterly Economic Survey
Q3 2025 Executive Summary
DOMESTIC SALES
Further declines in the service sector down to its lowest level since the autumn of 2020. Crumbs of comfort for the manufacturing sector where sales picked up slightly, the first time they have done so in 12 months.
Order books looking poor.
EXPORT SALES
A very poor quarter for overseas trading. Export sales for manufacturers at their lowest ebb since the height of the pandemic. Service sector firms show a modest increase. Order books looking poor.
EMPLOYMENT
A more positive picture emerging with employers showing increased enthusiasm for hiring more people. The forthcoming Budget will be key as to whether this trend continues.
INVESTMENT
Firms far keener on investing in upskilling their staff, with positive news on this front. Capital investment confidence remains non-existent.
BUSINESS CONFIDENCE
Service sector expectations down for the third consecutive quarter while manufacturing sector is dire. Turnover remains a challenge, with revenues declining sharply.
COSTS AND CONCERNS
Tax and labour costs remain the twin issues causing business the most concerns. Inflation rises up the list of external pressures.
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.
