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Business Tendency Survey results published

22 April 2022

​Statistics Jersey have today published the results of the March 2022 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 neutral, at +8 percentage points (pp); this means the proportion of businesses that reported an increase was 8 pp higher than those that reported a decrease
    • the business activity indicator was moderately positive for the finance sector (+24 pp) and was neutral for the non-finance sector (+2 pp)
    • the business activity indicator was essentially unchanged from the previous quarter for all sectors and both finance and non-finance

Current indicators

  • one of the eight current indicators was extremely negative (input costs), one was strongly negative (profitability), and one indicator was strongly positive (product prices)
    • the product prices indicator was at its highest recorded balance for all sectors, finance, and non-finance; the all-sector balance was significantly higher than the previous maximum recorded
    • the input costs indicator was at its lowest recorded balance for all sectors, finance, and non-finance
  • the overall picture was more positive than last quarter; one current indicator increased moderately, and there were no quarterly decreases

Current situation: COVID-19

  • the turnover indicator was neutral at +6 pp, which is essentially unchanged from the previous quarter
  • the actively working indicator was neutral at -1 pp which was essentially unchanged from the previous quarter
  • in the last three months, 41% of businesses had taken some additional workforce measures in response to COVID-19, with the most cited measures in this quarter being increased working hours and recruited staff

Outlook for next quarter – the three months to June 2022

  • the outlook for future business activity was strongly positive (+25 pp) overall
    • the indicator balance was strongly positive for finance (+36 pp) and moderately positive for non finance (+20 pp)
  • the overall future employment outlook was strongly positive (+25 pp)
    • the indicator was strongly positive for both finance (+25 pp) and non finance (+25 pp)
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