Herefordshire & Worcestershire Chamber of Commerce Release the Quarterly Economic Survey Report for Q2 2023

Herefordshire & Worcestershire Chamber of Commerce has released the Quarterly Economic Survey Report for Q2 2023, supported by The Development Manager Ltd.

The Quarterly Economic Survey is a comprehensive analysis of economic data collected from a diverse range of businesses across different sectors in the UK. The Q2 2023 report highlights key indicators, economic activities, and sentiments of UK businesses.

The latest survey was completed by 5009 businesses across the UK and 329 (6.6%) of these were businesses in Herefordshire & Worcestershire. In similar fashion to the previous survey for Q1, there has been a reduction in the number of businesses reporting inflation as a cause of concern for their business, 61% of businesses, compared to 67% in Q1.

Highlight Statistics for Q2:
• 33% of Businesses report increased sales.
• 47% of businesses expect their profitability to improve in the next 12 months.
• 58% of businesses are confident in a turnover increase within the next 12 months.

The Chamber is grateful for the support of The Development Manager Ltd in conducting this survey and is committed to supporting all activities that promote skills development, apprenticeships, and workforce planning.

Herefordshire & Worcestershire Chamber of Commerce hope you find the report useful to your business and would like to thank all those who took part in the survey.

Click here to download a free copy of the report QES_Q2 2023 (hwchamber.co.uk)