Quarterly Economic Review

Quarterly Economic Review

Monitoring trends in our regional business economy

 

The Quarterly Economic Review survey is for all business people from across the Sheffield City Region to answer questions on topical matters in the workplace.

Taking place each quarter, the Survey gives you the chance to ensure your voice is heard and help us influence regional and national policies, on your behalf.

The results are used to gain a snapshot of business sentiment and help inform key strategic decisions on supporting business growth and the wider economy.

The Sheffield City Region Quarterly Economic Review (QER) is part of the British Chamber’s Quarterly Economic Survey; the largest independent business survey in the UK and a significant economic indicator.

Latest Survey Results

SCR QER Quarter 1 Results

Between 17 February and 19 March 294 businesses, employing over 25,000 people, responded to the Sheffield City Region’s Quarterly Economic Review. When the fieldwork for Q1’s Quarterly Economic Survey for the Sheffield City Region was taking place – from 17 February to 9 March – the full extent of potential coronavirus implications for business were not yet understood. Instead, businesses were starting the year with an increased sense of certainty following the return of a strong majority for the governing party in Westminster and the UK’s formal exit from the European Union at the end of January.

Download for full results and analysis:  SCR QER Quarter 1 Results

SCR QER Quarter 2 Results

The Q2 survey fieldwork ran from 18 May to 8 June 2020 and there were 263 responses to the survey. In this period, the speed at which the economy shutdown because of the UK’s – and the global – response to the coronavirus pandemic was unprecedented. Whole swathes of the business community either ceased or dramatically reduced activity.

While there are some sectors and businesses that have seen growth in the past few months – for example, some food manufacturing or IT support and provision – for the majority of businesses this period has been one of uncertainty and waiting for further signs as to how and when the economy may unlock and any further health implications of this.

Download for full results and analysis:  SCR QER Quarter 2 Results

SCR QER Quarter 3 Results

The Q3 survey fieldwork ran from 24 August to 14 September 2020 and attracted a record 409 responses. At a macro level, given everything that has taken place over the last 6 months, the economy across the Sheffield City Region has held up well. UK market activity recovered from historic lows to almost reach positive territory again as a net score, with export markets not too far behind. In terms of staffing levels, unfortunately the figures showed large numbers of businesses reducing their workforce size over the past three months, but we also saw four-in-ten employers looking to recruit to new roles and a further one-in-four expecting overall increases in the workforce in the coming quarter, with only 11% expecting further decreases. Given everything the region has been through and the uncertainty that still exists, these results should give heart.

Download for full results and analysis:  SCR QER Quarter 3 Results

Events

QES Q4 Briefing Event

Fieldwork for the Quarter 4 survey takes place from 2 November to 23 November 2020. A free online event to examine the results will take place in early 2021.