Business Trends Report

Manufacturing Industry Hits Four Year Low With ‘Gloomy’ Output Prediction

Manufacturing Industry Hits Four Year Low With ‘Gloomy’ Output Prediction

Optimism among the UK’s manufacturing industry has slumped to a four-year low, as businesses prepare for life outside the EU – a report by BDO LLP has claimed. The Business Trends Report which surveyed over 4,000 enterprises revealed a ‘gloomy’ outlook for the sector with its optimism sub-index dropping down to 81.0 – with a score of 95 indicating contraction. General business confidence has also fallen to its lowest in three years, however the monthly drop is less severe than previous reports   – suggesting the UK’s decision to leave the European Union has made less of a negative impact than first predicted. Despite the negative trend, it’s suggested that the drop in value of the pound presents an opportunity for businesses to increase exports with overseas companies now able ... »

Research Suggests UK Economy Showed Signs of Slowing Before Brexit

Research Suggests UK Economy Showed Signs of Slowing Before Brexit

The UK economy was already showing signs of slowing down before the Brexit vote, according to a report from BDO LLP. Its Business Trends Report has revealed that “rising uncertainty” ahead of the EU referendum dragged down business output and optimism to three-year lows for the second month running. Business output – intended to reflect the order pipeline of companies over the next three months – was found to have dropped to 99.0, compared to 104.1 a year ago. Business optimism – predicting business growth over the next six months – also fell; down to 98.9 from 103.9. The UK manufacturing optimism sub-index slumped to 83.8, suggesting tough times ahead for those businesses in the manufacturing industry. Furthermore, small firms’ intentions to recruit more staff has ... »