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.

Events

Sheffield City Region – Skills for Recovery Report Launch and Quarterly Economic Survey Results

Date: Tuesday, 27 April 2021

Time: 9:00am – 10:30am

Book free here to hear more about the skills needs of businesses across the region for our recovery and renewal, and the views of business leaders in the results of the latest economic survey.

This interactive session will see the launch of new research into how well prepared from a skills perspective businesses are for recovery, the opportunities to strengthen links between businesses and education and the policy measures that will best support the development of the current and future workforce across the region.

Latest Survey Results

SCR QER – Quarter 4 Results

This instalment of the Quarterly Economic Review provides us with some interesting insights into how businesses in the region are faring and demonstrates a good level of positivity for some, particularly in manufacturing. However, with the latest national lockdown coming as another devastating blow to our business community, we are under no illusion regarding the pressure our businesses are under and the uncertainty that many face in the months ahead.

“It’s clear that 2020 was unprecedented, unpredictable and created amazing levels of uncertainty. Much of what has gone on has been out of businesses’ ability to control. However, under those circumstances, with one hand tied behind their backs, they have worked to manage those factors that they can control, looking for internal efficiencies, improvements in quality and new opportunities. In conversations with businesses, many spoke of a “weariness” and “fatigue” at navigating themselves and their staff through the difficulties of the past 10 months. However, there was still an undercurrent of tentative optimism for the coming year.”

For full results and analysis, download the full report here: QER Report Q4 2020

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