A MIXED bag of results indicates that economic recovery is continuing but the pace of growth is too slow, according to local company bosses.
Wealth-creating businesses must be given the right conditions to create growth or the recovery could be thrown off course, according to the Mid Yorkshire Chamber of Commerce quarterly survey.
“The cautious optimism which was reported earlier in the year has now been replaced by a lack of confidence and declining expectations of turnover and profit for the remainder of this year,” said spokesman Steven Leigh.
“But on a more positive note, it is pleasing that manufacturers are reporting increased sales and orders in export markets.”
The survey shows UK sales and order books slipping back, employment reasonably steady and cash flow continuing to lead to reduced turnover and profit expectations.
“These results confirm the fragility of the UK’s economic recovery and the continued uncertainty felt by Mid Yorkshire members,” said Mr Leigh.
“But despite serious concerns being expressed about declining cashflow balances, we welcome the reported ongoing increases in investment in plant and machinery.”
The Chamber says it will continue to vigorously lobby Government for more business-friendly measures to help stimulate investment and trade to promote business growth.
In particular it wants Government funding to be directed towards important infrastructure construction projects that will boost demand for products and services.