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Business Reports First Manifestation of Austerity Measures

 

A report released today by Doncaster Chamber of Commerce, highlights the challenges facing the economy as we move into 2011.

Doncaster Chamber's "Doncaster Economic Review" details data collected during the first quarter of the year and reveals the first manifestation of the coalition Government's austerity measures.

Sales retracted by 12% in the first quarter of 2011, business has reported a 17% drop in investment in plant/machinery, a 21% drop in training provision and the percentage of businesses reporting overall turnover growth has fallen; the rate is now 13%, down from 50% at the end of 2010.The number of businesses reporting an imporovement/worsing in cash flow has once again fallen to a balance of -12%, 8% lower than the final quarter of 2010.

Business confidence, the profitability expectation, has also collapsed, now 39% lower than the last quarter of 2010 at 11%. Over the course of the recession, confidence in Doncaster has remained well above national averages, yet now appears to be converging.

Read the full report here

To read previous versions of the economic review, please click here