Firms remain bullish about future prospects, according to chamber survey

Businesses are still confident about future growth prospects despite growing uncertainties around the world, new research from the West and North Yorkshire Chamber has said.

Manufacturing

The chamber’s results for its final quarterly economic survey of 2016 saw a rise in business confidence which had initially eased off after the EU referendum.

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The back end of the year also saw a rise in capital investment levels and expanding order books for many firms. On the downside, concern over raw material costs and exchange rates persists.

Manufacturing saw an upturn in their levels of profitability expectations, though there is also an expectation of prices rises. The overall findings were mirrored across Yorkshire and the national Chamber network.

Simon Pilling, a Partner with law firm Bond Dickinson, which sponsored the survey, said: “When we got over the initial announcement and businesses and individuals had time to reflect, we saw a period of recovery and confidence in the region began building back up again.”