25th Aug 2022
One aspect of the recent depressing Bank of England economic forecast for 2022/23 which may actually be good news for UK manufacturers is the US dollar’s projected strengthening against the British pound by 7-10% over the next 12 months.
Hallam’s MD, Rob Pickersgill, comments “coupled with shipping cost escalation and delays, the situation in Ukraine and Taiwan, together with other global supply chain difficulties, sourcing or re-sourcing in the UK must be an attractive proposition for UK-based manufacturers. Of course there are domestic supply-side problems, but at least we have a clear idea of what they are, and we have a better chance of resolving them than those that are completely outside our control overseas. The prospect of a strengthening dollar and consequent increase in sterling import prices for product components adds weight to the argument”.
The Hallam technical sales office can be contacted on 01405 813006 option 1, anytime.
