Quarterly Economic Survey: Skills deficit damaging growth and productivity
23 October 2018
BDO Northern Ireland is delighted to work in partnership with the Northern Ireland Chamber of Commerce and Industry to report the results of the Northern Ireland Quarterly Economic Survey.
The Quarterly Economic Survey (QES) is the largest and most representative independent business survey conducted in the Province. The survey, quarter to quarter, examines business sentiment on a range of forward looking indicators, including domestic sales and orders, export sales and orders, employment prospects, investment intentions, recruitment, cashflow, confidence, and price pressures. Where there is a positive movement in the indicators, this indicates expansion of activity and a negative movement indicates contraction of activity.
Almost 250 businesses responded to the QES for the 3rd quarter of 2018, accounting for over 21,000 jobs in Northern Ireland.
The QES forms part of the overall UK Quarterly Economic Survey, published by the British Chambers of Commerce and is the UK’s largest and most authoritative private-sector business survey. The 3rd quarter of 2018 saw over 5,500 businesses responding to the UK QES.
The QES is a prominent tool used to measure the state of business sentiment in Northern Ireland and nationally and is monitored by, and informs the decisions of, a range of national and international organisations including the Bank of England Monetary Policy Committee, HM Treasury, and European Commission.