Kent’s Quarterly Economic Survey Q1 2024
KENT & MEDWAY BUSINESSES: CHALLENGES REMAIN, BUT POSITIVE SIGNS EMERGE
While inflationary pressures and recruitment difficulties persist, Kent & Medway businesses see reasons for optimism. Trade is improving, with both domestic and export demand showing positive momentum. Notably, domestic orders are positive for the first time since Q2 2022. The mix of inflationary pressure is changing with competition pressure increasing and monetary pressures still a major factor but reducing.
One concern is the mixed picture within manufacturing, which is experiencing challenges in both domestic and export sales. The Chamber through its Kent & Medway Manufacturing Focus Group (KMFG) and other initiatives remains committed to actively support this vital sector.
Employment expectations are recovering after a recent dip, and recruitment remains strong. However, businesses still face significant challenges filling open positions. We are committed to supporting this area by our work on skills needs of regional employers and through our work with stakeholders.
As your Chamber of Commerce for Kent & Medway we remain committed to representing the views of local businesses and to raise the issues that are most important to you with local, regional and national stakeholders, so please share your views with us by taking part in future quarterly economic surveys.
TUDOR PRICE
Chief Executive
Kent Invicta Chamber of Commerce
