"'Overall, an average of 16% of businesses across all industry sectors revealed that their turnover had risen in July over the previous month. The number of transport & storage companies reporting turnover growth clearly lagged far behind the majority of sectors and, in particular, their manufacturing and retail partners.'"
"'However, this may only be a temporary dip. Countering July's results, transport & storage companies are bullish about their revenue prospects for September. An impressive 20.4% of transport & storage firms expect to see an increase in their turnover next month, beating all other sectors except education and health/social work.'"
"'Interestingly, this result reveals transport & storage firms are notably more optimistic about next month than their manufacturing and retail partners. 18% of retailers and just 13.1% of manufacturers expect their turnovers to increase in September.'"
ONS data shows just 9% of transport and storage firms reported higher turnover in July, the second-lowest sector result after arts (5.2%). Manufacturers and retailers reported increases of 19.4% and 20.1% respectively, while the overall cross-sector average was 16%. Transport and storage firms therefore lagged comparable sectors on month-on-month growth but signalled stronger short-term optimism: 20.4% expect turnover to rise in September, a higher share than retailers (18%) and manufacturers (13.1%), placing the sector behind only education and health/social work in expected growth.
Read at London Business News | Londonlovesbusiness.com
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