Catering equipment companies are reporting that they are performing better economically than the same time last year, but remain pessimistic about the future state of the economy, according to the latest Catering Equipment Suppliers Association's (CESA) business barometer.
The report shows continued confusion amongst UK businesses following the EU referendum - with 55% anticipating improved performance over the next three months compared to the same period last year. This is contrasted by 38% of companies who believe the economy will perform less well; 28% believing it will do better and 33% believing there will be no change.
Some 42% of those surveyed by CESA reported increased business turnover and 52% reported increased sales compared to the same time last year. More than 50% of companies are anticipating an increase in orders from UK and overseas companies, with 52% expecting an increase in business turnover.
However, while confidence in the short term is healthy, 42% are nervous about the performance of their business over the next 12 months, compared with 33% who are cautiously optimistic. These concerns include: the uncertainty of the UK's role in Europe, with 80% reporting that as their biggest worry, 68% concerned about the lack of economic growth and 56% of respondents nervous about price increases and inflation.
The CESA Business Barometer is compiled every quarter with all CESA members eligible to take part for free.