We offer a range of high quality accounting, financial and business services in and around Milton Keynes.

Survey finds business conditions remained weak in third quarter of 2020

07 Oct 2020

A survey carried out by the British Chambers of Commerce (BCC) has found that, despite the UK economy reopening, business conditions 'remained weak' in the third quarter of 2020.

Almost half of UK firms reported a decrease in domestic sales, whilst just 27% reported an increase in domestic sales.

47% of businesses reported a decrease in export sales, and 24% reported an increase in export sales.

The balance of firms in the services sector reporting increased domestic sales rose to -25% in the third quarter of 2020, up from -64% in the second quarter. Meanwhile, in the manufacturing sector, the balance of firms reporting increased domestic sales rose to -15% in the third quarter of 2020, up from -59% in the second quarter.

'Our latest survey indicates that underlying economic conditions remained exceptionally weak in the third quarter,' said Suren Thiru, Head of Economics at the BCC.

'While the declines in indicators of activity slowed as the UK economy gradually reopened, they remain well short of pre-pandemic levels, with little sign of a swift 'V'-shaped recovery.'

Register

Why not register to receive our monthly newswire? This is packed full of essential business news and handy tax tips to help save you money.

Learn more

Tax Calendar

Our handy tax calendar provides an overview of the key tax dates for your diary.

Learn more

Calculators

B2B’s interactive tax calculators can be used to calculate VAT due, the taxable benefits on your company car and how much your savings are worth.

Learn more

Home | About us | Contact us | Logon | Register | Accessibility | Disclaimer | Help | Site map |

© 2024 B2B Business Advisors Limited. All rights reserved.

We use cookies on this website, you can find more information about cookies here.
Chartered Tax Adviser

Registered in England, Company Registration number – 7906656. Registered Office – 58b High Street, Stony Stratford, Milton Keynes, MK11 1AQ. Registered with the Chartered Institute of Taxation as a firm of Chartered Tax Advisers. Registered to carry out audit work and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales.