Make UK/AIG Executive Survey 2019: manufacturers’ expectations for the year ahead
The spectre of Brexit is looming large as a source of business risk for manufacturers in 2019 which, together with a cocktail of protectionism and looming global slowdown is producing a more pessimistic outlook for growth prospects in the coming year.
The survey shows that whilst companies still expect to see growth in domestic and export orders, as well as employment, in the coming year, they are much less confident than a year ago, especially about prospects for the UK economy.
Aside from Brexit and trade related matters, the survey also shows that cyber security continues to rise up the business agenda with the number of companies citing disruption from cyber-attacks as the most significant risk to their business.
While companies are naturally optimistic by their nature, the spectre of Brexit is now very front of mind for manufacturers. This is bringing with it a whole host of risks from increased exchange rate volatility to rising input costs which right now are very difficult to plan for.
Stephen Phipson, CBE
Chief Executive, Make UK
It’s promising to see that UK manufacturers remain optimistic about the prospects for the global economy, despite the challenges of Brexit and other trade tensions expected in 2019, and the potential for a squeeze on cash flow. Strong credit-management bolstered with trade credit insurance can provide some protection for manufacturers’ revenues, whilst supporting their efforts to expand successfully into new markets...
Simon Gallimore
Manufacturing Industry Group Lead, AIG
