Latest News | 7 January 2021
Chamber survey shows tentative optimism
The latest Quarterly Economic Survey by East Midlands Chamber shows that some firms are tentatively optimistic about the future.
The study said the economic recovery had stalled in the East Midlands during the final quarter of last year due to the tightening Covid-19 restrictions impacting cashflow and advanced orders.
However, the survey also showed signs of light at the end of the tunnel as a net 16% of businesses in Derbyshire, Leicestershire and Nottinghamshire said they expected to create jobs in the three months following the study.
Chris Hobson, director of policy and external affairs at East Midlands Chamber, said: “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, as reflected in the confidence indicators for future turnover and profitability, perhaps acknowledging that the current predicament can’t last forever.
“Despite all the challenges of the past year, the vast majority of businesses have made it through – with some even finding opportunities to excel. If the first half of 2021 follows a similar pattern to the past six months, then more of those currently treading water may sadly slip under.”
