Cheltenham: 01242 260066 | Bristol: 0117 933 5710 | Email accountants@mitchells.org

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.'

Try a site search Tax returns, budget, pension, rates and allowances...

Contact details

Cheltenham Office: 01242 260066
Bristol Office: 0117 933 5710

Company Registration No: 4161638
Company Registered in England and Wales.
Company details
Mitchell Glanville Limited
Registered Address: 41 Rodney Road, Cheltenham, Gloucestershire GL50 1HX

Bristol Office: The Garden Suite, 23 Westfield Park, Redland, Bristol BS6 6LT
Mitchell Glanville Limited regulated by the Institute of Chartered Accountants in England and Wales
Mitchell Glanville (Bristol) Limited regulated by the Association of Chartered Certified Accountants

© 2020 Mitchells Chartered Accountants. All rights reserved. We use cookies on this website, you can find more information about cookies here.