HEIDELBERG and Metsä Board unite with new strategic collaboration
As part of a new collaboration, HEIDELBERG and Metsä Board will join forces to develop a range of new packaging innovations
According to the BPIF’s Q3 outlook, confidence in the print industry is significantly negative, below forecast, and expected to remain negative through Q3
The British Printing Industries Federation (BPIF) has released its Q3 report for the printing and packaging industries, showing “strongly negative” industry confidence despite output and order growth.
According to the report, the UK print and printed packaging industries have experienced stronger output and order growth in Q2, which is outlined as being more-or-less in line with its forecasts. A further boost in growth has been forecasted for Q3.
However, the report states that industry confidence remains precarious, with the general state of trade being significantly negative, below forecast, and expected to remain negative in Q3.
Respondents to the survey are generally more positive about the performance of their own companies, but less confident about the wider industry. According to the BPIF, the fact that industry confidence appears to be moving in the opposite direction to output and orders suggests some weakness in either the industry or the economy.
Major industry concerns include fears over pricing levels, demand, wage pressures, and securing skilled employees. This is combined with general economic concerns such as slow economic growth and rising inflation.
Highlighting some positives, the association highlights that the level of uncertainty felt by printers has diminished slightly. Capacity utilisation has also improved according to the BPIF, with employment intentions positive, costs excluding labour staying largely stable, cash flow has been improving, and companies are seeking to invest, automate, and drive efficiencies.
Charles Jarrold, chief executive officer of the BPIF, says: “Recently UK economic growth has been weak, and inflation has surged once more – understandably business confidence is fragile.
“Now that the government has laid out some long-term plans for selected sectors in their industrial strategy, we will be pushing for more targeted investment support for businesses, action on the commitment to reduce red tape, as well as the reassurance that printers will not be burdened with more costs and higher taxes ahead of the autumn budget.
Summing up his view, Jarrold adds: “It is businesses that provide the foundation for a healthy productive economy.”
The BPIF Q2 outlook described confidence in the printing and packaging industries as being “precariously positioned”, with marginally negative order numbers below forecasted levels. According to the report, output and order performance in Q1 was close to the subdued forecasts previously predicted.
