Survey finds business conditions remained weak in third quarter of 2020

A survey carried out by the British Chambers of Commerce (BCC) has found that, despite the UK economy reopening, business conditions 'remained weak' in the third quarter of 2020.

07 Oct 2020

A survey carried out by the British Chambers of Commerce (BCC) has found that, despite the UK economy reopening, business conditions 'remained weak' in the third quarter of 2020.

Almost half of UK firms reported a decrease in domestic sales, whilst just 27% reported an increase in domestic sales.

47% of businesses reported a decrease in export sales, and 24% reported an increase in export sales.

The balance of firms in the services sector reporting increased domestic sales rose to -25% in the third quarter of 2020, up from -64% in the second quarter. Meanwhile, in the manufacturing sector, the balance of firms reporting increased domestic sales rose to -15% in the third quarter of 2020, up from -59% in the second quarter.

'Our latest survey indicates that underlying economic conditions remained exceptionally weak in the third quarter,' said Suren Thiru, Head of Economics at the BCC.

'While the declines in indicators of activity slowed as the UK economy gradually reopened, they remain well short of pre-pandemic levels, with little sign of a swift 'V'-shaped recovery.'

Quick Links

Home | Contact us | Accessibility | Disclaimer | Help | Site map |

© 2024 Blue Spire Limited (Brighton). All rights reserved.

We use cookies on this website, you can find more information about cookies here.

Blue Spire Limited (Brighton) are Accountants in Brighton.

Contact Brighton Office

Tel: +44 (0)1273 739533
Fax: +44 (0)1273 732844
Email: brighton@bluespiregroup.com


Contact Chichester Office

Tel: +44 (0)1243 781234
Fax: +44 (0)1243 791770
Email: chichester@bluespiregroup.com

Brighton Address
5th Floor Intergen House, 65-67 Western Road, Hove, East Sussex BN3 2JQ

Chichester Address
Cawley Priory, South Pallant, Chichester, West Sussex PO19 1SY

Blue Spire Limited is Registered to carry out audit work in the UK and Ireland and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales C004152645. Professional indemnity insurance is provided by Royal & Sun Alliance Insurance Plc 9th Floor, One Plantation Place, 30 Fenchurch Street, London, EC3M 3BD and its territorial coverage is worldwide (excluding United States/Canada).
Blue Spire Financial Planning Limited is authorised and regulated by the Financial Conduct Authority. FSA register https://www.fca.org.uk/register reference 566257. This guidance and/or advice contained within this website is subject to the UK regulatory regime, and is therefore targeted at customers based in the UK