See what’s happening in the UK economy with our latest economic survey results.
Our quarterly survey trends publication unpacks results from our flagship business surveys of the private sector, which we use in stakeholder discussions with Whitehall, the Office for Budget Responsibility (OBR), and the Bank of England.
In Q3, our surveys found that private sector activity remained weak and has been flat or falling for two years. However, expectations - which have tracked better with GDP this year - point to moderate growth over the next three months.
Similarly, employment is expected to remain broadly flat over the next three months. Pay growth is gradually cooling, although firms expect it to remain higher than pre-COVID levels.
The stop-start growth we’ve seen this year comes as global supply chain disruption has ticked up, driven primarily by rising costs and backlogs of work creeping higher. Cost pressures also remain elevated across the private sector, which has continued to squeeze profit margins in the manufacturing and services sectors.
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