Product category:
Printing Trade Organisations - including Allied Industry Bodies
News Release from: Picon
Edited by the Printingtalk Editorial
Team on 22 October 2004
UK Print Confident Despite Weaker 3rd
Quarter
Despite the slow rate of economic growth and unrelenting currency exchange issues, confidence remains positive amongst UK print manufacturers, according to Picon's latest quarterly trends survey.
Despite the slow rate of economic growth and unrelenting currency exchange issues, confidence remains positive amongst UK print manufacturers, according to Picon's latest quarterly trends survey for the third quarter of 2004 Whilst the overall domestic order book for 2004 appears relatively healthy, the level of output for the third quarter was below capacity for 59 per cent of respondents, the highest recorded figure since the same period in 2002
This article was originally published on Printingtalk on 24 Mar 2005 at 8.00am (UK)
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Despite this, Picon members remain confident that the forthcoming final quarter of 2004 will hold better times.
Domestic orders for the fourth quarter of the year are forecast to rise to a positive balance of +26, up five per cent on the third quarter, with indications that printers appear to be increasing their capital expenditure on plant and machinery.
In line with this forecast, output in all areas, except paper machinery, is also expected to increase, with orders received as a result of Drupa starting to make an impact.
In the fourth quarter, the volume of output is forecast to increase by 24 per cent to a positive balance of +37 (13), building on the slight improvement recorded in the third quarter.
Currency exchange rates have continued to be a challenge for members during the period with little improvement foreseen for the final quarter of 2004 said Picon.
Increased competition from overseas manufacturers was recorded by 80 per cent of respondents, whilst pricing and currency fluctuations continued to inhibit exports with a drop of five per cent in export confidence compared to the second quarter, standing at +30 (+35).
According to Picon's Euro monitor, whilst participants who are against joining the Euro remain staunch in their opposition, there has been a gradual but definite rise in the number of people who are in favour of embracing the currency.
Commenting on the survey, Martyn Elmy, Chairman of Picon said: "Whilst the rate of economic recovery remains frustratingly slow and the challenges of the currency exchange rate continue to impact on UK suppliers' export potential, Picon members remain positive and upbeat as we enter the final quarter of 2004.
In addition, survey results show our members continue to adapt to the tough trading conditions through increased targeting of niche markets and the exploration of opportunities in new overseas markets.".
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