The British Chambers of Commerce (BCC) Quarterly Economic Survey – Britain’s largest and most authoritative private sector business survey, based on more than 7,200 responses from firms across the UK in Q4 2016 – shows that the uptick in Q3 in the manufacturing sector has been sustained in the final quarter, and more service sector firms are expecting growth than they were just after the EU referendum.
"As we start 2017, businesses are continuing to trade through the uncertainty, and are looking to seize opportunities as they arise. Our findings suggest that business communities across the UK remain resilient, and many firms are expecting continued growth in the months ahead. Inflation has emerged in our survey as a rising concern for many businesses. Both manufacturing and services firms say they are under pressure, particularly from the rising cost of inputs, which is squeezing margins and may weaken future investment. Overall, our findings suggest growth will continue in 2017, albeit at a more modest pace. The government must act strongly this year to support investment and improve the business environment – both of which are crucial to boosting business confidence, and therefore further growth."
– Dr Adam Marshall Director General, British Chambers of Commerce
To read the full survey please click here.