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The survey looks at a wide range of issues, including; home sales and orders, export sales and orders, employment prospects, investment, recruitment difficulties, cash flow, confidence and price pressures. All participants have the opportunity to receive resulting reports.
Local results are fed into the British Chambers of Commerce (BCC) to formulate the first national economic indicator of the quarter. Published in advance of official figures and other private surveys, it consistently mirrors trends in official data and, because of this, it is closely watched by key organisations including the Treasury, the Bank of England, the Office of Budget Responsibility, the EU Commission and the IMF.
The local results are a good source of data for businesses looking to understand the economic climate in Somerset.
The QES comprises of less than 30 tick box questions covering demand, employment, confidence investment and external factors and takes just a couple of minutes to complete. Any business can complete the survey – you don’t have to be a Chamber member.
The latest Quarterly Economic Survey was supported by Barclays and closed on June 8th. The next survey will open on 26th August.
The results from the national survey are published each quarter online by the BCC. To view the latest reports, click below.