British Print Industries Federation reports that output and order performance of the UK printing and printed packaging industry in Q1 was close to the subdued forecasts, while confidence did not sink to the depths that had been anticipated. Output levels were marginally positive, and just above forecasted levels in Q1. Order numbers were marginally negative and below forecasted levels. Confidence in the general state of trade did not move towards the Q1 forecast, though confidence remains precariously positioned and is not yet showing signs of rebounding.
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. The latest uncertainties created by President Trumps tariff announcements, and the ensuing chaos have not been helpful, but so far it seems that the UK, and our printing and printed packaging industry, will not be as adversely affected as some other countries and sectors. However, the knock-on harm will still spread.
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