Traders expecting higher costs

Business owners expect product prices to rise, the survey said

Jersey business owners expect to pay more for their supplies over the next three months, a survey has found.

Statistics Jersey has published its latest Business Tendency Survey, which asked traders for their views on the economy.

The survey said 23% of businesses reported a rise in trade, 23% reported a fall and 54% said it was unchanged over the last three months.

It added 63% of traders think costs would rise in the next three months.

About 2% of businesses expect their costs to decrease in the three months up to June while 35% think they will stay the same, the survey added.

The survey's findings found 41% of traders think product prices will increase over the same time period.

Within the same question, they survey said 1% of businesses think product prices will fall in the next three months and 58% expect prices to be unchanged.

Positivity around employment

The survey also said traders think employment levels over the next three months will be "moderately positive".

It said 25% of businesses are expecting an increase in employment during that time, while 8% believe there will be a decrease.

About two-thirds (67%) expected no change in employment, the survey said.