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Government red tape, mounting costs, and stagnated growth have led to a predicted dip in print industry confidence, but with hope of an eventual rebound, according to the BPIF’s Q2 outlook
The British Printing Industries Federation (BPIF) has described confidence in the printing and packaging industries as being “precariously positioned”, with marginally negative order numbers below forecasted levels.
According to the association’s Q2 outlook for the UK printing and packaging industries, output and order performance in Q1 was close to the subdued forecasts previously predicted.
The BPIF’s Q1 forecast had outlined what it saw as a “nosedive in confidence” with signs of subdued growth as a result. It had been calculated that business confidence slipped in Q4 of 2024, with order and output expectations for Q1 and Q2 of 2025 due to flatline or drop as a result.
While confidence reportedly did not sink to the depths that had been anticipated, with output levels marginally positive and just above forecasted levels in Q1, order numbers were marginally negative and below forecasted levels in the same period.
According to the BPIF, confidence levels in the industry are “not yet showing signs of rebounding,” with overall confidence “depressed [but] not destroyed.”
The outlook highlights the stand-out concerns companies are facing, including a perception that some competitors are pricing below cost, that wage pressures have reached restrictive levels, and that sales levels are not sufficient to drive strategic plans.
The BPIF also highlights mounting concerns over taxation and ‘red tape’ as a key concern, with both issues now ranked amongst the top five business concerns according to the report.
Controlling costs has now reportedly become the top priority for companies’ plans to increase profitability in the next twelve months.
The outlook also highlights that for the second successive quarter more companies decreased than increased employment levels, with intentions for Q2 also predicted to be more negative.
Kyle Jardine, economist at BPIF, says: “Last year was a slow-burning improvement for activity in the industry, but despite some positive sounding rhetoric from government regarding supporting business growth, action so far has only burdened businesses with more costs and regulations.
“Wage pressures have blocked recruitment intentions – and together with wider economic uncertainties, have restricted the ability of companies to reach their desired levels of investment. This culminated in a crisis in confidence, as reported last quarter, which the industry is now attempting to climb out of.”
Charles Jarrold, chief executive of BPIF, adds: “Our members have been clear; they are crying out for government to start supporting businesses, reducing the cost, regulatory, and compliance burden they face, and make it easier for them to invest in both skills and technology.
“We are frequently raising these desires with government, and it is with some interest that we now await the unveiling of the government’s industrial strategy.”
