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The fourth CBRE AIB Logistics and Supply Chain Confidence Index reports a decline in confidence amongst supply chain professionals in Ireland year-on-year, with optimism amongst logistics operators dropping back to below 2017 levels for the first time.
Despite a rise in overall confidence in 2018, slowing economic growth and continued uncertainty around Brexit have contributed to the considerable challenges manufacturers and retailers face as is evident from the most recent research. The declining optimism is being influenced by lower anticipated levels of GDP growth in 2019, similar to trends across Europe. The research, undertaken by Analytiqa, found that 72% of respondents expect conditions to be more difficult over the next 12 months, up from 38% last year.
Overall, it is interesting to see that respondents are generally confident about increasing turnover within their businesses and 61% forecast increased profitability over the next 12 months. Logistics operators are considerably more confident of increasing the profitability of their business when compared to manufacturers and retailers (71% of respondents in the logistics sector in contrast to 50% of manufacturers and retailers). Meanwhile, 69% of all respondents expect their turnover to increase over the next year.
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