The first Quarterly Economic Survey (QES) of 2021, which coincided with the Prime Minster’s Roadmap announcement, shows business confidence in Lincolnshire has taken a positive turn.
Running from 15th February to 8th March, the survey paints a more confident picture when compared with that of Q4 2020, although most indicators still in negative territory.
Cashflow and price pressures remain for businesses weighing heavy on performance, with cash flow moving from -34 to -28 and price pressures shifting from +18 to +59 – the highest change on record.
In Q4 of 2020, we reported the surveys lowest ever international sales and orders, whilst Q1 shows some improvement with overseas sales moving from -60 to – 30 and overseas orders moving from -57 to -24, they remain in negative territory.
Simon Beardsley, Chief Executive at Lincolnshire Chamber of Commerce, said: “The Q1 results have made for slightly better reading than that of the Q4 results as the survey has shown improvements across all but one of the indicators, although most still remain negative.
“Manufacturers in particular have had a challenging few months, with delays to supply chains caused by the ongoing disruption of post-Brexit trade.
“Whilst we are seeing positives here, the hope weighing on these positives is based on the Government continuing to hit the target dates set out in the roadmap, successfully continuing the vaccination roll out and the ongoing support to businesses that have suffered and continue to suffer throughout this pandemic.
“These results do show there are glimmers of hope from Lincolnshire businesses and Government must provide the certainty that is needed for businesses to play their part in the economic recovery of the pandemic.”
The full briefing can be seen here.
Join our free virtual QES Q1 Briefing to hear more about these results, taking place on 20th April, 8am – 8.45am, register here.
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