Together with academics from Stanford University and the University of Nottingham, the Bank has developed the Decision Maker Panel (DMP) survey to help monitor recent developments in the UK economy and to track businesses’ expectations and the uncertainty surrounding them.1 The responses from the DMP survey complement the intelligence gathered from contacts of the Bank’s Agents.
The panel comprises Chief Financial Officers from small, medium and large UK companies operating in a broad range of industries. It is designed to be representative of the population of UK businesses. Around 6,600 businesses had agreed to be part of the panel at the time of the November survey. The survey runs monthly with panel members receiving one third of a quarterly questionnaire each month. The response rate has averaged around 45% in recent months. Aggregate-level data from the DMP survey are available on the Bank’s website. Please read the Quarterly Bulletin article for details on the methodology. All results are weighted.
On 4 December, a summary of the latest DMP results relating to Brexit was published alongside the results of a survey by the Bank’s Agents to coincide with the Treasury Select Committee hearing on the Bank’s Brexit work. This covered a full set of quarterly data collected between August and October and estimates from November that were based on one third of the sample. The data showed that Brexit had created uncertainty for many businesses and that Brexit’s importance as a source of uncertainty had risen further in recent months (Chart A).
This box provides some extra detail from the August to October surveys on the characteristics of firms that expect to be affected by Brexit and summarises companies’ views on the shorter-term prospects for their businesses.2