Catering equipment suppliers express worries in post-Brexit business barometer
CESA survey underlines industry concerns: warnings of risk of talking up recession
The latest CESA Business Barometer shows that catering equipment suppliers are deeply concerned about the future. Nearly two thirds of respondents think the overall economy will not perform as well in the next few months, though only 38% thought their own company’s sales would drop. In the three months leading up to Brexit, over half said turnover was up. However, over 80% expect it to remain the same or drop in the coming months, compared to last year.
Looking further ahead, over 46% are nervous or pessimistic about business turnover in the next 12 months, compared to 42% who are cautiously optimistic or confident. The remainder are neutral.
“In terms of confidence, Brexit has delivered a real blow to our industry,” says Simon Frost, chair of CESA. “However, the reality over the past few months since the vote is that most CESA members are reporting steady sales.
“The Barometer shows that uncertainty over the UK’s role in Europe, along with inflation, are the two biggest concerns. Some manufacturers, as well as some foodservice operators, are putting investment on hold until there is more confidence in the way ahead. That’s understandable but we must be aware of the danger that we might talk ourselves into recession.”
The CESA Business Barometer is compiled every quarter. All CESA members can take part, for free. Any company that does take part receives a full copy of the report.
The Catering Equipment Suppliers Association (CESA) is the authoritative voice of the catering equipment industry, representing over 180 companies who supply, service and maintain all types of commercial catering equipment – from utensils to full kitchen schemes. For more information on CESA visit www.cesa.org.uk