Respondents indicate highest level of business confidence and the highest increase in profit margins in March 2007.
Exeter Chamber of Commerce and Industry met with the Bank of England, on 20 March 2014 to report the findings of their Exeter Business Survey, for the last quarter.
The latest Exeter Business Survey shows that the number of businesses reporting an increase in sales is the highest it has ever been. In addition to this, members have also indicated an increase in profit margins, which are also at the highest level they’ve been since March 2007.
Businesses also reported the highest level of confidence since 2007 suggesting that the city is beginning to move out of the recession with just 1% of businesses indicating that their business confidence was low.
This survey was particularly significant to reflect on the effect, of the recent floods and rail link loss. However results demonstrate that despite the disruption Exeter has continued to remain ‘open for business’.
Derek Phillips, vice president of Exeter Chamber of Commerce & Industry, said “The figures recorded for this quarter support the view that Exeter is moving out of this long drawn recession and the future looks encouraging.”
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