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Jonathan Orr

Outlook for UK Manufacturing 2020

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Jonathan Orr

The most recent manuffacturing figures from the UK and USA show a somewhat gloomy outlook. Do we really feel this is the case or will the shackles come off now we have removed, at least the first layer, of BREXIT uncertainty.

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Daniel Kirmatzis

Hi @Jonathan Orr

After the ONS figures released this week showing no growth for the 3 months to January and now with the added unknown impact of Coronavirus, the immediate future is uncertain.

However, some British manufacturers have seen a positive impact from the Coronavirus with increased order book growth like WES Hardmetal in Cornwall. Companies are turning to UK supply chains to fulfill needs in this current crisis.

We can only hope the renewed interest in UK supply chains from UK companies remains.

Best regards,

Daniel.

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Gail Campbell

@Jonathan Orr

I think this year is going to be extremely challenging for all UK manufacturers.  Not only have we had Brexit and the uncertainties that it has brought with it, but now we have the world wide pandemic which will affect every business in the UK.  The measures put in place yesterday (Tuesday 17th March) by the Prime Minister will be of significant help to businesses to try and stay afloat, but there is extreme anxiety by workers, including business owners, regarding pay, jobs and the fear of the unknown.  People need to know their jobs are safe and their homes will not be taken away from them.  Many people are now working from home, which in itself can cause problems of social isolation, but there are also many people that cannot work from home.

These will be very hard times, but if we all pull together hopefully we can get through this.

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Tim Brown
On 3/18/2020 at 6:43 PM, Gail Campbell said:

@Jonathan Orr

I think this year is going to be extremely challenging for all UK manufacturers.  Not only have we had Brexit and the uncertainties that it has brought with it, but now we have the world wide pandemic which will affect every business in the UK.  The measures put in place yesterday (Tuesday 17th March) by the Prime Minister will be of significant help to businesses to try and stay afloat, but there is extreme anxiety by workers, including business owners, regarding pay, jobs and the fear of the unknown.  People need to know their jobs are safe and their homes will not be taken away from them.  Many people are now working from home, which in itself can cause problems of social isolation, but there are also many people that cannot work from home.

These will be very hard times, but if we all pull together hopefully we can get through this.

Definitely agree. Don't think we've seen the worst of this yet either. The stock market was already running a little hot (in my opinion) so I think the macro economic shock will be heightened. As with the GFC though, certain manufacturing sectors such as pharma, food & drink and some FMCG will likely be safeguarded. Large scale further disruption to supply chains may cause further headaches. I'm of the opinion that the supply chain disruptions to those sectors will be manageable but I'm interested to know what others think.

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