• Training investment up 10 per cent for local service sector firms
• West Yorkshire manufacturers see 12 per cent rise in employment

Manufacturers across Calderdale/Kirklees/Wakefield saw a 30 per cent increase in turnover over quarter three, new data from the Mid Yorkshire Chamber of Commerce reveals. The results of the Chamber’s latest Quarterly Economic Survey (QES) come just weeks ahead of Chancellor Rachel Reeves’ first Autumn Statement.

Despite strong turnover results across the board, domestic sales were down for manufacturers in the region, dipping by three per cent, with service sector firms’ UK sales staying at the same level as in quarter two.

Overseas, the service sector fared better with an increase of 15 per cent versus Q2. However, manufacturers didn’t have the same luck, seeing an 11 per cent decline.

However, profitability was up for both service and manufacturing sectors, seeing 18 and six per cent rises, respectively.

The service sector increased its investment in training by a whopping ten per cent over the last quarter, while the manufacturing sector saw an impressive 12 per cent rise in employment.

When asked about the major challenges facing their industries, energy and utility bills (29 per cent), cost of labour (23 per cent), and interest rates (22 per cent) were the top issues for manufacturers, meanwhile inflation (88 per cent) and taxes (88 per cent) worried the service sector the most over Q3.

The data comes from the Mid Yorkshire Chamber of Commerce’s Quarterly Economic Survey (QES) which contributes to the national British Chambers of Commerce research, the UK’s largest and longest-running independent business survey which is used by policy makers such as the Bank of England and the Treasury. The research also helps the Mid Yorkshire Chamber and other local and regional bodies campaign for the right business support, at the right time.

Martin Hathaway, managing director of the Mid Yorkshire Chamber of Commerce, said: “It is incredibly promising to see such a high turnover growth for manufacturers as well as a rise in training and recruitment. However, the data shows that both the service sector and manufacturers are seeing a decline in their intentions to recruit in Q4.

“I am hopeful that a focus on skills and forward planning for the New Year will mean we can boost local job creation for 2025.

“However, this massively depends on the outcomes of Chancellor Reeves’ first Autumn Statement. This is likely a reason why firms are apprehensive to commit to any major changes in the run up to the budget with a new Government in charge. I hope that the Labour party stand by their promise of being pro-business and pro-worker.”

Read the report here