The Quarterly Economic Survey
The Quarterly Economic Survey (QES) is the largest and most representative independent business survey of its kind in the UK. Each quarter more than 6,000 businesses participate in the QES.
The results are used to influence local, regional and national governments and decision makers to help shape the support structures available to the local business community. At the national level, it’s a leading indicator – often picking up big changes in the economy long before other surveys or official statistics:
- The Bank of England’s Monetary Policy Committee uses the QES as one of its key benchmarks when setting interest rates.
- HM Treasury and the independent Office for Budget Responsibility use the QES to put together their forecasts for the UK’s economic performance.
- The European Commission uses the QES to assess the health of the UK economy when it makes policy recommendations for both Westminster and Brussels.
Chamber members are actively encouraged to feed into the QES to help shape the Chamber’s policy discussions – which are based on first-hand feedback from businesses in the region.