Thursday, December 13th, 2001
In the light of recent discussions on the Euro and the implications for
business, survey 42 asked about your preparations for its continental wide
introduction on January 1st 2002. Results are summarised here but for the
complete analysis please visit results.
We found that only just over half (53%) of our panellists are involved in
exporting to Continental Europe. Amongst those that do, the vast majority bring
in less than 10% of their turnover from that source. A slightly larger
percentage (57%) are not at all reliant on supplies from Continental Europe and
27% only import 10% or less in terms of turnover value.
In this context, our respondents appear to be relatively well prepared: 25.6%
strongly agreed that they were well aware of the implications for the
introduction of the Euro, while a further 25.6% regard themselves as well
aware. 28.7% were neutral on the question and only 20% disagreed that they were
61% of respondents have invoicing/payment procedures which will accommodate the
introduction of the Euro. 32.6% will quote prices in Sterling but 23.3% will be
quoting prices in Euros. If panellists convert their price to Euros, most will
not adjust prices, all 7% of all panellists do intend to increase prices then.
Fears have been expressed about the economy talking itself into a recession,
and 53.5% of our panellists admitted that talk of recession does influence
their business decisions, regardless of any changes in actual market
The Core Questions responses showed the following results this month:
Overall constraint on businesses due to shortages of skills showed a small
increase in November Production and Manufacturing sectors are experiencing the
least constraint from skills shortages, although conditions are also changing
The average level of business constraint due to lack of finance changed very
little in November.
Average constraint due to low market demand showed a small increase for the
second month running.
The profile of growth over the last three months in November showed little
change from October, with average growth being nearly stagnant at present..
Expectations about growth over the next three months were slightly more
optimistic than in October, with the Production and Manufacturing sector
showing slightly more optimism than Services and Distribution.
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