Business confidence up as exports rise

Monday 11 February 2013

Manufacturing output rose in March

Businesses’ confidence about future turnover and profitability is at a two-year high, it has been revealed.

The DHL/BCC Trade Confidence Index report has showed a 1.4 per cent rise in exports during the final quarter of 2012, up 5.2 per cent on the equivalent period in 2011.

Exports are now at their third highest level since the DHL/BCC index report began in 2010.

Nearly half of exporters (45 per cent) said their export sales increased, compared to 13 per cent of respondents who reported they decreased.

In the service sector, export sales increased for 46 per cent of firms, up from 42 per cent in Q3.

John Longworth, director general of the British Chambers of Commerce, said it was "encouraging" to see Britain's exports continue to grow.

This growth is due to the ambition and talent of UK businesses, despite the continued challenges they face, he stated.

"But we mustn’t be complacent about the health of our export sector, as there is always a danger that it could be choked off through a lack of working capital to fulfil orders," Mr Longworth added.

He said the much-needed re-balancing of exports is underway, but for it to really have an impact in boosting the economic recovery, it needs to happen faster.

Posted by Dan Smith