‘We shouldn’t talk ourselves into a recession’ is a phrase that I’ve heard on more than one occasion recently.
If you read the news, however, then that’s easier said than done. The fact that the UK actually grew by 0.5% in October has been dismissed by economists as a ‘false dawn’ and that, if we are not in recession already, then it is only a matter of time.
That gloomy outlook is accompanied by reports of inflation continuing to erode any gains in wages, which are actually close to a record high according to the ONS.
But is it all really that bad? In last week’s newsletter, the latest Business Pilot Barometer showed average order values in the retail sector were up 17% in November.
And this week, Carl F Groupco has reported its biggest ever month, with sales in excess of £2million. Carl F Groupco’s MD, John Crittenden, says that’s due to ongoing demand for premium products, but even at the value end of the market, customers are still reporting ‘full order books.’
Should the industry be bursting with confidence for 2023 then? Cautious optimism is perhaps the more sensible outlook, at least according to Ryan Johnson, group MD of Emplas.
In an open letter to the industry, Ryan has highlighted a number of challenges and opportunities for the New Year ahead, from consumer spending, to the housing market, the energy crisis and more.
You can read his comment in full here.
It’s not all doom and gloom
‘We shouldn’t talk ourselves into a recession’ is a phrase that I’ve heard on more than one occasion recently.
If you read the news, however, then that’s easier said than done. The fact that the UK actually grew by 0.5% in October has been dismissed by economists as a ‘false dawn’ and that, if we are not in recession already, then it is only a matter of time.
That gloomy outlook is accompanied by reports of inflation continuing to erode any gains in wages, which are actually close to a record high according to the ONS.
But is it all really that bad? In last week’s newsletter, the latest Business Pilot Barometer showed average order values in the retail sector were up 17% in November.
And this week, Carl F Groupco has reported its biggest ever month, with sales in excess of £2million. Carl F Groupco’s MD, John Crittenden, says that’s due to ongoing demand for premium products, but even at the value end of the market, customers are still reporting ‘full order books.’
Should the industry be bursting with confidence for 2023 then? Cautious optimism is perhaps the more sensible outlook, at least according to Ryan Johnson, group MD of Emplas.
In an open letter to the industry, Ryan has highlighted a number of challenges and opportunities for the New Year ahead, from consumer spending, to the housing market, the energy crisis and more.
You can read his comment in full here.
Glass Times
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