The Greater Birmingham Chambers of Commerce Quarterly Economic Survey (QES) for Q4 2013 showed a sectoral divergence in domestic sales and advance order markets, as well as business confidence. The number of service sector firms reporting an improvement in these areas increased whereas for manufacturers, this number fell. However, both sectors reported improvements for export markets and labour growth. shows that the QES index for service sector domestic sales increased to 70 from 64, the highest index score since Q4 2007. However, fewer manufacturing firms reported an increase in domestic sales, with the index figure falling to 64 from 70.
The QES draws its results from questionnaire responses completed by businesses. For Q4 2013 a total of 392 companies were surveyed from across the Greater Birmingham and Solihull LEP area. An index score above 50 indicates that more firms overall are reporting improvement on the previous month; an index score of 50 means that on balance, there is no change; and an index score of below 50 indicates an overall decline in performance.
0.8% GDP Growth in Q3 2013
80 QES Index
1
70
0.5
60 0
50 -0.5
Manufacturing
40
Services
-1
David Bharier Economic Policy Advisor 0121 607 1814 d.bharier@birmingham-chamber.com Greater Birmingham Chambers of Commerce 75 Harborne Road, Edgbaston Birmingham, B15 3DH
30 -1.5
20 -2.1% GDP Growth in Q4 2008
10
-2
0
For previous editions of the QES, click here To view the British Chambers of Commerce QES, click here
-2.5
Q4 Q2 Q4 Q2 Q4 Q2 Q4 Q2 Q4 Q2 Q4 Q2 Q4 2007 2008 2008 2009 2009 2010 2010 2011 2011 2012 2012 2013 2013
www.birmingham-chamber.com
Manufacturing Domestic Sales
Manufacturing Turnover Confidence
Index Score: 65
Index Score: 80
Index Score: 70
Index Score: 69
Service Sector Domestic Sales
Export Sales (Both Sectors)
Index Score: 62
Service Sector Labour Growth
The Quarterly Economic Survey (QES) is produced by Greater Birmingham Chambers of Commerce (GBCC) every quarter to assess how businesses are performing on a range of key indicators. Data from every UK region is compiled by the British Chambers of Commerce to form the largest business survey of its kind. The results from QES are monitored by the Bank of England, HM Treasury, and the European Commission as a quarterly indication of business conditions. As one of the biggest Chambers in the country, the results from the Greater Birmingham Chambers’ QES form a vital component in understanding the economic landscape of the region and BCCG continues to use the results of QES to inform its policy positions.