British Plastics Federation sees positive signs too
The key findings of British Plastics Federation business conditions survey highlight a better trand of UK plastics industry and a widespread optimism, as far as the next months’ expectations are concerned. In fact 70% of respondents are forecasting an increase in 2010 sales turnover. Most of them in the range +2-10%. However, respondents emphasized sales turnover in many sectors declined in 2009 by 15-40%. 44% expected export sales to increase in 2010. Most of them expect increases in the 5-20% range, thanks to a favourable exchange rate, some recovery in overseas markets and new business. As for the employment rate, 59% of respondents expected their staffing levels to be unchanged in 2010. Last year many had reduced staff levels and introduced short time working. 31% of respondents planned to increase their staff, most of them by 2-15%. The main problems for British companies are high charges related to finance admission from banks and the relative trade credit insurance, finding new business, efficiency and preparing for the upturn and staff training. Regarding the application fields, the domestic housing market has slightly improved but is still quite depressed. Public sector construction work could be even worse with mortgages hard to come by, due to the very fragile economy.