Survey to measure confidence in economy launched

Last year's survey showed a fall in economic confidence

A group representing business leaders in Guernsey has launched a third survey to measure how confident people are about the economy.

The Institute of Directors (IoD) is aiming to gather views ahead of the States Election on 18 June.

It's asking its members to identify the challenges facing organisations in the Bailiwick.

The last survey, launched in October 2024, showed confidence in Guernsey's economy dropped to a net positive reading of -25%.

The IoD's last two surveys showed air and sea links, labour costs and availability, housing and skills shortages were the most prominent issues.

In its October 2024 survey, business people said they were confident in the revenue of their individual businesses being successful, with an increase of 47% in that area.

The survey also showed a net positive reading of -25% confidence in the local economy, which was lower than the -18% result in May 2024.

That percentage was "considerably higher" than the UK which stands at -58%.

The Economic Confidence Survey is open only to IoD members until Monday 26 May.

IoD Guernsey's economic lead, Richard Hemans, said: "The third survey will include questions on economic growth, productivity, the fiscal deficit and entrepreneurship, areas expected to feature heavily in policy discussions as candidates set out their manifestos."