Rewind to the start of the year, and some of you may remember the quiet optimism that 2022 was supposed to bring. Well, six months on and our Q2 Manufacturing Outlook
data - published in partnership with BDO - shows that optimism has well and truly been dampened.
The potent cocktail of rising energy costs, spiralling inflation and ongoing supply chain disruption mean output, orders, employment intentions and investment have all slowed.
That’s why today, we are calling for an emergency, pre-recess package of business support measures to help shield companies from a potent cocktail of escalating costs amid a worsening economic outlook.
The seriousness of the situation and, the worsening prospects for the next six months, means that we cannot wait for the promised help in the Autumn which the Chancellor made in the Spring Statement.
Action is required urgently before the summer recess.