Quarterly Economic Survey (QES)

The Quarterly Economic Survey

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What is it?

The British Chambers of Commerce, together with the accredited Chamber Network, including Lincolnshire Chamber of Commerce, run Britain’s most influential private business survey – the Quarterly Economic Survey (QES).

Each quarter more than 6,000 businesses nationally participate in the QES. Businesses are questioned on a wide range of issues, including; domestic sales and orders, export sales and orders, employment prospects, investment, recruitment difficulties, cashflow, confidence and price pressures.

The QES is the first economic indicator of the quarter, published in advance of official figures and other private surveys, and it consistently mirrors trends in official data. The survey is closely watched by policymakers such as the Treasury, the Bank of England, the Office for Budget Responsibility, the EU Commission and International Monetary Fund (IMF).

See below the previous Quarters Results, going from newest to oldest for the last four quarters.

Running from 16th February to the 8th March, the fieldwork period was against a backdrop of increased GDP, continued rising inflation and a fall in national unemployment – with the conflict in Ukraine not yet impacting businesses as much as it did soon after.

Q1 2022 Results

This quarter’s survey ran from 1st to 21st November and was conducted prior to the Omicron variant impacting on the nation.

The results show that businesses have high confidence going into 2022 but tempered with significant price pressures constraining activity.

Q4 2021 Results

This quarter’s survey ran from 23rd August to 13th September so those businesses responding would have done so against a backdrop of reports on driver shortages and supply chain issues, increases to National Insurance, and a less than forecast monthly economic growth figure for July of just 0.1%.

Q3 2021 Results

This quarter’s survey ran from 18th May to 8th June so those businesses responding would have very much felt the effects of the further easing of restrictions and the economy opening up.

However, this quarter’s results suggest a much more positive quarter of activity for Manufacturing businesses compared to those in Services.

Q2 2021 Results
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