Quarterly Economic Survey (QES) | 24.08.17
Devon Chamber of Commerce has released the third Quarterly Economic Survey(QES) for 2017. Through our QES we can identify the issues and concerns that businesses have within the region and feed this information back to British Chambers of Commerce. Below is some information on the QES:
- It is Britain’s biggest and longest-running, private business survey.
- It has provided consistent data since 1989, and regularly receives more than 7,000 business responses
- It is a leading indicator – often picking up big changes in the economy long before other surveys or official statistics
- It is used by the Bank of England’s Monetary Policy Committee, as one of its key benchmarks when setting interest rates
- HM Treasury and the independent Office for Budget Responsibility use it to put together their forecasts for the UK’s economic performance
- The European Commission uses it to assess the health of the UK economy when it makes policy recommendations for both Westminster and Brussels
- The Organisation for Economic Cooperation and Development (OECD) and the International Monetary Fund (IMF) use it when comparing the UK to worldwide competitors
The QES is a clear example of how being part of the Chamber means you’re part of something bigger. Together we can shape the future of Devon.
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