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Information and public services for the Island of Jersey

L'înformâtion et les sèrvices publyis pouor I'Île dé Jèrri

Business Tendency Survey results published

19 July 2023

​Statistics Jersey have today published the results of the June 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 (+37 pp) and neutral for the non-finance sector (+1 pp)

Current indicators

  • one of the eight current indicators was extremely negative (input costs), one indicator was strongly negative (profitability), while one indicator was strongly positive (product prices) and one indicator was moderately positive (business activity)
    • for the finance sector, there was one extremely negative indicator (input costs), and there were five positive indicators: two 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 one was moderately negative; in contrast, one indicator was strongly positive and the other four were neutral
  • the overall picture was essentially the same as last quarter; the only notable change was a moderate decrease in the product prices indicator

Outlook for next quarter – the three months to September 2023

  • the outlook for future business activity was moderately positive (+17 pp) 
    • the indicator balance was strongly positive for finance (+33 pp) and neutral for non finance (+9 pp)
  • the overall future employment outlook was moderately positive (+21 pp)
    • the indicator was strongly positive for finance (+47 pp) and neutral for non finance (+9 pp)
  • the overall future input costs outlook was extremely negative (-80 pp)
    • the indicator had similarly balances for both finance (-78 pp) and non finance (-81 pp)
  • the overall future product prices outlook was strongly positive (+42 pp)
    • the indicator was strongly positive for finance (+26 pp) and extremely positive for non finance (+50 pp)

2023 – Finance sector expectations

  • the employment expectations indicator for 2023 was extremely positive (+59 pp)
    • the balance for this indicator was essentially unchanged from June 2022 (up 8 pp)
  • the profit expectations indicator for 2023 was strongly positive (+40 pp); 61% of finance companies anticipated an increase in profits in 2023, compared to 21% that anticipated a decrease 
    • the balance for this indicator was moderately decreased from June 2022 (down 10 pp)
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