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
- 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 well aware.
- 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 conditions.
- 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 in Services.
- 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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