Economic survey confirms stark impact of COVID-19 and Brexit uncertainty on NI businesses
06 October 2020
The latest Q3 2020 Quarterly Economic Survey (QES) published today (6 October 2020) by Northern Ireland Chamber of Commerce and Industry (NI Chamber) and BDO highlights that there has been some recovery in business activity after the severe collapse experienced in Quarter 2. However, all key business indicators remain negative in Q3, meaning that there are still more businesses in Northern Ireland reporting worsening business conditions than those reporting any improvement. Key business indicators remain significantly weaker than before the pandemic struck.
The Northern Ireland Chamber of Commerce and Industry Quarterly Economic Survey (QES), in partnership with BDO Northern Ireland, 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.
250 members responded to the NI Chamber of Commerce & Industry Quarterly Economic Survey (QES), in partnership with BDO, for the 3rd quarter of 2020. Together they account for 20,000 jobs in Northern Ireland.