Businesses asked to help build a picture
The Quarterly Economic Survey, run by Hull & Humber Chamber of Commerce in partnership with 51 other Chambers of Commerce around the country, is one of the country’s longest-running and most respected business surveys. The results are analysed by the Bank of England’s Monetary Policy Committee before it sets interest rates, and by local organisations including Yorkshire Forward. Every quarter around 6,000 UK businesses fill in the survey.
Using the QES, Chambers of Commerce were the first to indicate that the country was in recession. After two quarters of improving figures, this quarter’s results could indicate that the UK’s economy has returned to modest growth. The Chamber wants to build up an accurate picture of how closely the local economy is following suit.
The survey can be accessed via the Chamber’s website at www.hull-humber-chamber.co.uk and takes less than four minutes to complete.
Richard Kendall, policy executive at the Chamber, said: “The QES is one of the most important business surveys in the country. It is used extensively by the Bank of England and the Treasury for their analyses of the national economy, and by a range of organisations locally to see how well companies are doing. The findings have a real impact on interest rates, business support and economic policy.
“There is already speculation this quarter that the national economy is coming out of recession. Our local results will be an important indicator for whether or not the Humber economy is keeping pace, so I would urge all businesses to take part.”
