Atul Kariya, head of manufacturing and engineering at MHA MacIntyre Hudson, says confidence will only recover when parliament approves a deal.
“Until we achieve clarity regarding the UK’s future trading relationship with Europe, caution will continue to dominate the industry’s thinking. Growth isn’t stagnant, but is decidedly sluggish as customers take longer to make procurements and new orders dry up.
“The rise in stockpiling is no surprise; with clouds on the horizon many businesses are taking steps to shelter themselves against the worst. To help overcome this many firms have been working more collaboratively with their suppliers, gaining greater understanding of their logistical chains.
“The same pattern, a drop in confidence, and an increase in stockpiling, is liable to continue next month until a deal is agreed. Should we tumble into a no deal situation confidence it is set to plummet.”
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