There is little in the December industrial trends survey to inspire hopes that the new year will bring better times for the UK manufacturing sector after what looks to have been a very difficult fourth quarter.
However, the hope for manufacturers is that reduced uncertainties following the decisive General Election result and the UK now leaving the EU with Boris Johnson’s deal on 31 January will encourage businesses to invest more and lift consumer willingness to buy big-ticket items.
However, significant Brexit uncertainties remain which, along with a challenging global environment may limit the upside for investment in 2020. Consumers may also face less favourable fundamentals due to a softer labour market and reduced earnings growth.
