Exporters Anticipate Growth As Picture Brightens For UK Businesses
The drop in value of the pound has opened up overseas opportunities for domestic enterprises
UK exporters are anticipating extended growth for the coming months despite remaining uncertainty following the Brexit vote, according to research from the Confederation of British Industry.
Their latest Industrial Trends survey has revealed that 30% of UK exporting firms believe their output will increase, in contrast to just 19% who believe the opposite.
The report also reveals that 21% of businesses surveyed said export levels were running “above normal”, despite the fact that a larger number (27%) said they were achieving below average levels.
Its suggested that the drop in value of the pound following the EU referendum has opened up overseas opportunities for domestic enterprises.
Anna Leach, head of economic analysis and surveys at the CBI, said:
“It’s good to see manufacturing output growth coming in stronger than expected, and some signs that the fall in sterling is helping to bolster export orders.
“But the pound’s weakness is a double-edged sword, as it benefits exporters but also pushes up costs and prices.”
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