Figures out today show that after a significant drop in confidence levels recorded in Q1, we can now report this confidence has bounced back for Lincolnshire businesses.
Sales have fallen but orders increase though both remaining positive, overseas sales fall but keep strong, however Lincolnshire Chamber of Commerce have seen record numbers of exporting documents through April and May.
Recruitment activity has dropped, compared to Q1 where recruitment activity held strong, we could be seeing record levels of employment and with investment plans for both, capital and training, we could be seeing employers looking at upskilling current workforce.
The balance of Lincolnshire businesses reports improved cashflow – a key indicator of business health – and which took a turn for the worse in Q1.
Dr David Gray, Economics Programme Development Planner & Principal Lecturer at Lincoln International Business School, said: “It appears that the Lincolnshire economy is quite resilient in the face of the Brexit uncertainties. Pay is likely to remain a key pressure as with other costs linked to a weaker exchange rate”
Simon Beardsley, Chief Executive of Lincolnshire Chamber of Commerce, said: “Although, the results from Q2 suggest that Lincolnshire businesses have moved past any issues leading up to the (now missed) March Brexit deadline and are starting to adapt accordingly, it still remains ever more important to avoid a messy and disorderly Brexit.
“We are holding our second QES Breakfast Briefing on Tuesday 9th July at Commerce House, Lincoln to discuss the results in more detail, secure your place .”
Fieldwork for Q3 will commence on Monday 26th August through to Monday 16th September.
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