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Despite well-documented staff and supply shortage issues, confidence in the UK logistics sector has risen to 62.5, the highest level since H1 2015, according to the latest Barclays-BDO Logistics Confidence Index, undertaken with specialist sector research agency Analytiqa. This is in contrast to last year’s Index, when confidence fell to its lowest level since 2012 amid heightened Brexit and Covid uncertainty. However, the strength of the recovery and optimism about the future reflects the improved clarity and visibility around navigating Brexit and Covid when compared to last year, allowing operators to make future investment plans.
Operators still face significant business challenges, with 96.0% pointing to staff shortages as their main concern and many are worried about the increased labour costs this will cause. However, the industry is addressing issues head on with 67.0% of companies saying they are investing more in recruitment or HR, and two thirds (66.0%) are working with younger people or introducing apprenticeship schemes.
Underlining this renewed confidence, the Barclays-BDO study reveals 85.0% of companies are likely to make significant capital expenditure over the next 12 months, and almost two thirds (63.0%) expect an increase in headcount within a year.
To view the full findings and to receive your complimentary copy of the latest report, please click here.