Attitudes take turn for positive, despite tariffs

THE attitudes of North East business leaders have become more positive despite the looming challenge of US tariffs, a new survey has found.

- TOM KEIGHLEY

There has been renewed investment in plant and machinery, a boost in UK sales and more exporting across the first quarter of 2025, following a rough end to 2024, the North East Chamber of Commerce's quarterly economic survey has shown.

Firms from across the region gave their views at a time of tumult for the world economy caused by the imposition of tariffs by US President Donald Trump.

Researchers found UK sales have increased 9.9% this quarter after a 13.8% annual drop, and export activity saw a 21.3% increase, though annual levels were low. UK orders were said to be under pressure, down 1.9% quarterly and nearly 16% annually.

Investment in plant was up 16.8%, though 1% below last year. And spending on training was up 10.5% after Q4 declines. However, the profitability outlook fell 0.8% on last quarter and 10.5% over the year.