Q4 disappoints as orders and output only marginally outperform restrained forecast
Q4 DISAPPOINTS AS ORDERS AND OUTPUT ONLY MARGINALLY OUTPERFORM RESTRAINED FORECAST - MORE HOPE FOR Q1 AS EXPECTATIONS FOR PRINTING INDUSTRY CONFIDENCE STRENGTHEN
UK printing experienced a marginally better than expected fourth quarter. Following a subdued forecast for the period both output and orders just outperformed expectations, as the industry experienced a very slight upturn, aided by some election-related activity. Orders and output are now expected to recover further in Q1.
The latest Printing Outlook survey reveals that 34% of printers increased output levels in the fourth quarter of 2019. Slightly more respondents (38%) held output steady, whilst 28% experienced a decline in output. The resulting balance (the difference between the ups and the downs) was +6, marginally greater than +5 in Q3 and the Q4 forecast (+2).
The worst Q3 report for three years, since the aftermath of the shock EU referendum result, has now been followed by the worst Q4 report for seven years.
The BPIF/BOSS Impact Survey was designed to help BPIF and BOSS support businesses during the Coronavirus crisis. At a time of huge uncertainty amongst all businesses and a constantly evolving situation it is key for BPIF and BOSS to understand specific business needs and priorities and establish which areas of business are most affected.
The Chief Executive of the HMRC has announced the portal will be open on 20th April 2020. It is HMRC's aim for employers to be paid the first furlough payments four to six working days after submission of their claim.