Business Confidence Survey Q4 2020
10 February 2021
FDF’s newly-released Q4 2020 Business Confidence report shows that net business confidence among food and drink manufacturers fell in Q4, reaching -34% as a result of tougher COVID-19 restrictions and disruptions along the supply chain. Despite over a third of members experiencing increased output, productivity and domestic retail sales in Q4, over half continued to suffer from increased costs and reduced margins.
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Unsurprisingly, businesses are relatively pessimistic about UK economic conditions in 2021, with key concerns including border issues, a prolonged lockdown and higher ingredient costs.
On the other hand, members see the increased certainty over the UK-EU trade relationship, domestic demand, and investment in new product launches as key opportunities for 2021.
FDF produces Business Confidence reports on a quarterly basis which summarise member sentiment, key impacts on the industry, as well as key opportunities and challenges for the sector. See past reports below.