Business Confidence Increasing in North Yorkshire
12:27pm 7th July 2014
More businesses in Yorkshire are showing increasing signs of confidence and growth as the economic recovery begins to stretch its legs.
West & North Yorkshire Chamber of Commerce reports that its latest quarterly economic survey shows more businesses are increasing their sales levels, turnover and investment plans, especially in manufacturing. The survey asks, among other things, whether company order books are more favourable than three months previous, what recruitment activity is expected to take place, and what factors are of most concern.
Manufacturers reported the stronger upturn in sales increases, and this was reflected in turnover and confidence feedback. This has led to enhanced investment plans within the sector, although services also reported some positives here too. Employment levels are now starting to rise within the region, although the business picture is not identical across the whole of the patch covered by the Chamber.
While manufacturers in Leeds and North Yorkshire raised more concerns over raw material prices, the opposite was reported by Bradford firms. Labour market activity is now picking up in Leeds, whereas in Bradford it is more subdued. Common ground can be found again across the region with the service sector saying there is little or no increasing pressure to raise prices.
Mark Goldstone, West & North Yorkshire Chamber’s Head of Business Representation & Policy, said: “There is much to be positive about in the survey results; but there are concerns that need flagging up too. There are still great pressures on business – whether that’s keeping control of budgets, fending off increasing competition or finding new orders. West & North Yorkshire Chamber – now the fifth largest in the country – will continue to lobby those in positions of influence in coming months to secure the best possible conditions for all of us to do business.”
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