Actual and forecast confidence tumble
The BPIF’s Printing Outlook survey shows a steep decline in the sector’s confidence and uncertainty over the impact of Brexit on business.
The balance of reported output for Q2 was up a modest +3, the lowest figure for the quarter since 2012, and way below the forecast +37. The marginal positive balance in output is expected to be short lived, with balance in output forecast to fall to -14 in Q3. Confidence in the state of the trade fell to -10 in Q2, down from +2 in Q1. Firms had forecast that their confidence would improve in Q2. Predictions for confidence in Q3 fell dramatically to -26. The confidence forecast for Q2 had been +30.
‘Overall the figures are quite negative, there’s no getting around that,’ said BPIF research manager Kyle Jardine ‘Also, a lot of this has been attributed to uncertainty both pre and post referendum – and the surprise of the Brexit outcome.’
Mr Jardine added that the BPIF was planning a post referendum survey to gain further insight into the implications of Brexit on the print sector.
The Printing Outlook survey was carried out online between 1-15 July. It received responses from 99 firms, which between them employ 3886 with combined sales of £444m. Further details are available in the full copy of the report, which is free to members and otherwise costs £40. For more see www.britishprint.com/printingoutlook
