21 April 2023
Statistics Jersey have today published the results of the March 2023 Business Tendency Survey.
This quarterly survey provides timely, qualitative information about the Island’s economy. Chief executives and managing directors are asked for their opinions on the current situation of their business compared to three months earlier and their expectations for the next three months.
Business activity indicator
- the headline all-sector business activity indicator was moderately positive, at +12 percentage points (pp); this means the proportion of businesses that reported an increase was 12 pp higher than those that reported a decrease
- the business activity indicator was strongly positive for the finance sector (+39 pp) and neutral for the non-finance sector (+1 pp)
- the all-sector business activity indicator was essentially unchanged over the three months to March (up 8 pp); the indicator increased moderately by 10 pp for finance, and was essentially unchanged for non finance (up 8 pp)
- one of the eight current indicators was extremely negative (input costs), one indicator was strongly negative (profitability), while one indicator was extremely positive (product prices)
- for the finance sector, there was one extremely negative indicator (input costs), and there were seven positive indicators: one extremely positive, three strongly positive, and three moderately positive
- for the non-finance sector, one of the eight current indicators was extremely negative (input costs), one was strongly negative, and two were moderately negative; in contrast, one indicator was extremely positive and the other three were neutral
- the overall picture was essentially the same as last quarter
Outlook for next quarter – the three months to June 2023
- the outlook for future business activity was moderately positive (+20 pp)
- the indicator balance was strongly positive for finance (+41 pp) and moderately positive for non finance (+11 pp)
- the overall future employment outlook was moderately positive (+21 pp)
- the indicator was extremely positive for finance (+50 pp) and neutral for non finance (+8 pp)