Business Trends Survey results for companies in Greater London
The ECA Business Trends Survey is undertaken quarterly with ECA members. It tracks business performance in the latest quarter, as well as expectations for both the next quarter and the next 12 months, and looks at turnover and orders received/expected.
- Greater London had shown a rise in those reporting an increase of turnover but the balance dropped dramatically from 43% in Q2 2007 to only 2% in Q4 2007. In Q1 2008 it has bounced back a little to 12%.
- The balance of those expecting an increase in turnover in the next quarter has been somewhat erratic but with a substantial drop to 0% in Q3 2007 since when it has remained unchanged.
- Levels of actual and expected enquiries levels have been very variable. The balance for actual enquiries in the present survey was well down of the level in the previous survey.
- This area had always been optimistic about the next 12 months although there has been a steady decline, over the last five surveys. In the latest survey the balance is down to 0% showing little optimism.
- There continues to be some concern over increasing competition in this area.
Companies in Greater London: actual turnover change in last quarter and actual and expected turnover change – balance*.
*Balance: for each question on the survey, respondents were asked whether values would be more, less or the same as in previous periods. The difference between more or less is referred to as the balance.
If you would like to view the graph charting expectations in turnover change for companies in Greater London for the next 12 months, or would like any further information on the topic, please contact Steve Newbold, ECA Head of Marketing, at steve.newbold@eca.co.uk.