UK biz conditions challenging; ONS estimates indicate some improvement

A smaller proportion of businesses reported supply chain disruption, more businesses reported they were able to get materials, goods and services from within the country, and fewer businesses reported price inflation of goods and services or energy prices as their primary concern.

Sixty-eight per cent of businesses with 10 or more employees reported they were able to get the goods they needed from within the country in May this year without some form of disruption, up by three percentage points from April. A further 13 per cent of businesses reported they had to change suppliers or find alternative solutions to do so.

In May, 59 per cent of businesses with 10 or more employees reported they did not experience global supply chain disruption—up by four percentage points from April.

Sixty-seven per cent of businesses reported some form of concern for their business for July 2023—the lowest percentage reported since late March last year, ONS said in a release.

Thirteen per cent of businesses reported that their employees' hourly wages had increased in May compared with April.

Seven per cent of surveyed businesses were affected by industrial action in May—the lowest proportion reported since July last year. As a result, 33 per cent of those businesses reported that their workforce had to change their working location.

ALCHEMPro News Desk (DS)