Kent’s Quarterly Economic Survey Q4 2022
Kent Invicta is one of six Chambers in the South East that are accredited by the British Chambers of Commerce (BCC).
It regularly contributes to 30%-50% of the South East’s responses to the Quarterly Economic Survey, the largest UK survey of its kind, which is administered on behalf of the BCC by every accredited Chamber.
The questionnaire, honed over many years to gather a wealth of information, takes only about 3 minutes for a business Proprietor / Managing Director / Chief Executive, to complete.
The domestic sales in Q2 2022 were at a high but since then it has taken a hit. 22% reported an increase in UK Sales, 34% reported a decrease in UK sales and the overall net balance of -12% (down from +23% in Q2 and -4% in Q3).
Only 22% of respondents overall reported an increase in domestic sales, a significant drop from Q2, where 41% reported an increase in domestic sales but a very marginal change from Q3, where 25% reported an increase in domestic sales. While more companies reported a decline in sales – swelled from 18% in Q2 2022 to 29% in Q3. Even more increase in companies reporting a decline in domestic sales to 34% this quarter.
Turning to domestic orders, the net balance also reflected the same dip as domestic sales, which shrunk from -14% to -20%.
The share of firms reporting an increase, remained almost constant, from 19% to 20% this quarter but the proportion that said that sales had dropped, also expanded, from 33% to 40% this quarter.
