Third quarter confidence on the up
Mon, 29th September 2014

Third quarter confidence on the up

Business confidence is soaring in Coventry and Warwickshire ahead of one of the region's biggest economic conferences.

The Coventry and Warwickshire Chamber of Commerce is holding its annual event at the Belgrade Theatre on 17 October with speakers from Yorkshire Bank, Turkish Airlines, the local enterprise partnership and Timpsons as well as MP Marcus Jones.

Its latest Quarterly Economic Survey for the third quarter of 2014 shows clear confidence among manufacturers and service sector companies.

Of those surveyed, 83 per cent of service-based businesses said they expected turnover to rise over the next 12 months while 94 per cent of manufacturers echoed those sentiments.

When it comes to profitability, 76 per cent of both service sector companies and manufacturers are forecasting an increase.

Chamber chief executive Louise Bennett said: "These are very positive figures from businesses ahead of our economic conference in October.

"The conference is being themed around prosperity through growth and will explore how this region can maintain the momentum that is developing among our businesses."

When it comes to employment, 44 per cent of manufacturers said they were expecting to grow their workforce over the next three months while 38 per cent of service providers want to take on new staff.

Manufacturers' exporting prospects remain stronger than those in the service sector with 57 per cent reporting rising advanced overseas orders while only 15 per cent of the service industry experienced the same.

Bennett added: "Exporting is absolutely key to future growth and our international trade hub at the chamber is helping firms across Coventry and Warwickshire find new overseas market on a daily basis."

category Midlands  |  source Insider Media