Strong QES results

Chamber’s Chief Economist, Dr John Ashcroft, at a QES briefing

The Chamber has published some of the strongest Quarterly Economic Survey (QES) results since the survey began.

The results for Q4 of 2013 were revealed by the Chamber’s Chief Economist, Dr John Ashcroft, at a QES briefing on Friday (January 10).

Dr Ashcroft said: “The figures are better than we saw in the run-up to the recession. The ‘Help to Buy’ scheme has stimulated the construction sector and there’s been a broader recovery in manufacturing.

“It’s all looking incredibly positive. Growth is up, unemployment is down, inflation is down and borrowing figures will return to normal. Only the trade figures will continue to disappoint.”

After going through the QES results, Dr Ashcroft went on to look at the global picture. He explained that the pattern of economic growth across the world was “incredibly fragmented” at the moment. He said that, despite the success of certain British exporters such as Jaguar Land Rover in the Far East, Europe would remain the UK’s main trading partner.

Such was the interest in the latest QES results that the event at HSBC, Spinningfields, Manchester, was fully booked. Those unable to get a place at the briefing can read the QES report and presentation online.

Following Dr Ashcroft’s presentation, Chris Fletcher, the Chamber’s Director of Policy and Communications, gave an update on the Chamber’s Action for Business work. He explained that the Chamber would be asking for member feedback on the issue of late payment and zero-hours contracts.

Looking at the year ahead, he said the key issues would be:

• The cost of doing business (the minimium wage versus the living wage)

• Transport

• Energy

• The need for a British business bank

• Trade

• Elections and referendums