BPIF Printing Outlook Q3 2023 – Two Sides

Kyle Jardine, BPIF Economist, said:

“Like orders and output, the view of the general state of trade was significantly lower looking back at Q2 now, than the forecast was for Q2 – and confidence remains fragile in Q3. As previously identified, a period of lingering and extreme cost pressures, combined with economic uncertainty, had eroded earlier recoveries in confidence. Whilst more positive news on inflation (and industry costs) appears to be forming, it has not yet been enough to stimulate any significant improvements in confidence.”

Charles Jarrold, BPIF Chief Executive, said:

“Unsurprisingly, a slowing economy has had its impact on the sector, being as it is a bellwether. We are seeing some signs that the higher interest rates are impacting, not just on business, but also in reducing inflation. Against an uncertain economic backdrop, the cash flow analysis in the full report shows that much of the industry is in a reasonably strong financial position, 87% have either an excellent, good, or normal cash flow position. However, there is still a realisation that companies need to pay close attention to this; and devise and follow plans to improve their profitability. Controlling costs is key, the report highlights this and some other areas that companies are focussing on.”

Khalid Aziz, DP&S Marketing Director, Canon UK & Ireland, and sponsors of the Printing Outlook report, said:

“Having recently joined Canon as Digital Printing & Solutions (DP&S) Marketing Director for the UK and Ireland, I’m pleased to learn of the great job being undertaken by the BPIF. The BPIF’s consistency with delivering key data and trends for the print industry each quarter is laudable and I’m excited that, through our partnership, the Printing Outlook Report is making a great impact by helping businesses make informed decisions.

“We’re continuously developing new technologies and solutions to bring products and services to market for our valued customers and partners to help them meet their print demand, increase opportunities, and ensure high productivity.

“Once again, I’d like to use this opportunity to thank the BPIF and its members for this opportunity and hope we can further build on our work together throughout 2023.”