Reuters report on the British Chambers of Commerce latest business survey

  • Services companies, which make up the overwhelming majority of Britain's private-sector economy, reported the fastest growth in domestic and overseas sales since June's referendum
  • Manufacturers enjoyed the most rapid domestic sales growth since the third quarter of 2015, while export sales grew at the quickest pace since the final three months of 2014
  • Firms reported a robust short-run outlook
  • Much more uncertainty about the medium term as well as fears of sharply rising costs
  • "Many firms tell us their short-term expectations are strong, but that the medium-term picture is far from clear," said Adam Marshall, the BCC's director-general.
  • The BCC said raw material costs were having the biggest influence on prices since late 2011, and called inflation "a key risk to the UK's growth prospects"

BBC conducts Britain's largest quarterly private-sector business survey. The BCC survey was based on responses from more than 7,300 firms polled between Feb. 20 and March 13.

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Reuters include also results from a survey also released by the Federation of Small Businesses:

  • Morale rose to its highest since late 2015
  • "We cannot rely in the long term on the boost that exporters have received from a weak pound," FSB chairman Mike Cherry said
  • FSB said a quarter of small businesses would be deterred from exporting to the EU if they faced any tariffs after Britain leaves the bloc in 2019

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AND, more:

  • A separate survey by market research company Nielsen, conducted after Prime Minister Theresa May formally started the clock on Brexit talks on March 29, showed consumer confidence was stable
  • But worries were growing about rising prices - especially among people who had voted to leave the EU
  • "Although immigration concerns have dropped, Leavers are starting to worry more about everyday matters, particularly rising utility bills and food prices," said Steve Smith, Nielsen's managing director for the United Kingdom and Ireland
  • Many voters who backed Leave come from poorer households which are likely to face the biggest pinch from rising prices for food and fuel

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None of this having much FX impact ... but useful info on the economy nonetheless.