QES Q3 Business Survey – National and Dorset results

The Q3 Quarterly Economic Survey national and Dorset results were recently published. There were over 7,100 responses at a national level and 92 responses from Dorset businesses. The QES is Britain’s largest and most authoritative private sector business survey and is recognised as a highly accurate barometer of the UK economy.

At a national level the BCC stated:

“The uninspiring results in our 3rd quarter results reflect the fact that political uncertainty, currency fluctuations and the vagaries of the Brexit process are continuing to weigh on business growth prospects.”

The survey showed more subdued growth with some improvement in the manufacturing sector, but largely no change in the service sector over the quarter. Forward looking indicators suggest manufacturers nationally have growing confidence and turnover will increase.
See the national Q3 results here

Locally in Dorset:

  • Employers remain positive about the economy with the domestic market performing well but slowing.
  • Employment grew – but so did recruitment difficulties and the employment outlook for the coming quarter looks less positive than previously.
  • Cashflow remained positive although investment intentions were subdued.
  • The outlook for turnover and profitability over the next 12 months improved again.
  • 44% of respondents believe the cost of housing to be an barrier to business growth in terms of attracting skilled staff to the area.
  • Just over half of the respondents employing migrant workers believe restricting access to these workers once we leave the UE would have an impact on their business
  • Top priorities are gaining more customers, growing the business, recruiting good staff, raising profile and developing skills.

See the Dorset Q3 results here and many thanks as always to Anne Gray of Dorset County Council for her analysis of the Dorset results.

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