Survey of Lincolnshire business finds first rise in UK trade since start of pandemic

The latest Quarterly Economic Survey by the Lincolnshire Chamber of Commerce has shown the first increase in UK trade since the start of last year.
Simon Beardsley, of Lincolnshire Chamber of Commerce.Simon Beardsley, of Lincolnshire Chamber of Commerce.
Simon Beardsley, of Lincolnshire Chamber of Commerce.

However, there was a further decline in overseas markets.

The survey ran from May 18 to June 8, a time when coronavirus restrictions were starting to ease across the nation.

Results among the county respondents included:

* Domestic sales up from -9 to +19

* Domestic orders up from -11 to +16

* Overseas sales down from -30 to -47

* Overseas orders down from -24 to -38

* Recruitment up from -2 to +19 over the past three months

* Cashflow up from -28 to -16

* Confidence down from +52 to +41 in terms of turnover and +30 to +13 in terms of profit.

Simon Beardsley, chief executive at Lincolnshire Chamber of Commerce, said: “The latest results do show that an economic recovery is starting to take shape, but we are still hearing from our members that we are not clear yet and we are still a way off returning to pre-pandemic trading levels, particularly those that rely heavily on trading overseas.

“Whilst these results do paint a positive picture, we don’t want Government to see this as their job done, we still have a long way to go and now is the time for Government to work with the wider Chamber Network to rebuild our country into a better place to do business than it has ever been before.”

Coun Colin Davie, executive councillor for economic development at Lincolsnhire County Council, said: “It’s clear that we still have a long way to go until our economy has the growth, certainty and security that we want to see, and it’s unsurprising that overseas trade remains a challenge.

“But we are seeing small steps forward as confidence improves and domestic trade shows really positive signs.”