Staffordshire Chambers of Commerce, through its Quarterly Economic Survey (QES), helps to contribute to Britain’s most influential private business survey. Some key facts of the QES include:
- 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 are the economy
Make sure to check out the new national QES website at www.economicsurvey.org.uk and let us know what you think!