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1 August 2023

Print industry output, orders and confidence all flatlined in Q2

Print industry output, orders and confidence all flatlined in Q2

Only marginal improvement forecast for Q3 despite continued cost stabilisation.

Challenges for the UK's printing and printed packaging industry have continued into the second quarter of 2023 as orders and output did not rebound following poor performances in the previous two quarters. The previous forecast was that Q2 would experience an upturn in industry performance, this expectation has been thwarted following a fragile economic performance, prolonged concerns over inflation levels, for both consumers and businesses, and the continued upward trajectory for interest rates. Printers are focussing on controlling costs, increasing productivity, and managing sales more effectively. Cost pressures are easing but lower prices may be required to encourage output and orders to grow in Q3; and where pricing goes is a critical concern for many.

The latest Printing Outlook survey reveals that less than one-third (30%) of printers managed to increase their output levels in the second quarter of 2023, whilst over two-fifths (43%) were able to hold output steady. That left 27% that experienced a decline in their output levels. The resulting balance (the difference between the ups and the downs) was therefore +3, well below the over-optimistic +34 that was forecast, but a little improved from the -3 experienced in Q1. This lacklustre outcome at least reverses Q1's negative report, but it has clearly been a tougher quarter than was expected three months ago.

BPIF Press Release Printing Outlook Q3 2023 - Size: 168Kb Download
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For more information please contact:
Kyle Jardine
Kyle Jardine
0289 002 0135
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