Record recruitment plans and increase in UK trade found in latest Lincolnshire economic survey

The latest quarterly economic survey by the Lincolnshire Chamber of Commerce has found an increase in domestic trade and record recruitment plans.

Simon Beardsley, chief executive of the Lincolnshire Chamber of Commerce.

However, there is also a warning that ‘we are not out of the woods yet’.

The survey ran from August 23 to September 13, against a backdrop of reports on driver shortages, supply chain issues, and increases to National Insurance.

It showed continued improvement on the previous quarter, with all indicators now out of negative territory.

Results from county respondents included:

* An increase in UK sales from +19 to +38 and orders from +16 to +27, returning the indicators to 2018 levels.

* An increase in overseas sales from -47 to +15 and orders from -38 to 0.

* An increase in the proportion of businesses reporting that they are likely to recruit in the next three months, with the indicator rising from +22 to a record of +39.

Simon Beardsley, chief executive at the Lincolnshire Chamber of Commerce, said: “Despite the supply chain issues, alongside wider labour shortages and escalating price rises we see a very positive set of results here

“Seemingly different to that of the national picture where these challenges are starting to drag on our economic recovery from Covid-19.

“Although we see a lot of positivity here, we are not out of the woods yet, the focus now must be on creating the best possible environment for businesses to grow and succeed and by supporting organisations through the difficult months ahead they can begin to generate wealth, create jobs and support communities.

“Which is why, along with the wider chamber network, we are calling on the Government to place a freeze on all policy measures that increase business costs.”

Coun Colin Davie, executive councillor for economy at Lincolnshire County Council, said: “Against what is still a challenging trading environment, the latest survey results are certainly a step in the right direction. With the furlough scheme now ended, the news that businesses in Lincolnshire are actively recruiting is encouraging and will further support the county’s economic recovery.”

There will be a chance to hear more about the results as well as the national picture at the Local and National Economic Briefing with the Bank of England on November 16, from 8-9.30am. To register for the event visit www.lincs-chamber.co.uk/events/local-national-economic-update