Towards the end of 2016, the CPA carried out a survey using the Insight Data database. Part of the survey asked participants to predict how they expected the glass and glazing industry to perform in 2017.
Overall, the results reveal a trend towards caution, with many participants predicting neither rise nor fall across several areas. With an uncertain global economy, this is perhaps unsurprising. The percentage of those predicting a reduction in prosperity however, was low, suggesting a cautious positivity for the industry in 2017.
The results in detail
The statistics reveal that 41% of participants predicted an increase in growth across the glass and glazing industry. 41% also predicted the industry would flatten out with neither growth nor decline. Only 14% predicted an industry reduction, showing confidence in general remains robust.
A majority of 55% predicted that the number of businesses ceasing to trade would remain the same in 2017. With 17% predicting an increase and the same percentage predicting a fall. 34% of members surveyed predicted that consumer spending on home improvements would increase in 2017. Only 17% predicted a reduction while 44% said it would remain the same.
It was in the area of new retail and commercial projects that participants showed the most divided response. 38% predicted an increase while 31% predicted neither growth nor reduction and 21% predicted a fall. This is due, perhaps to a general uncertainty across the commercial and retail sector and the wider UK economy.
Protecting business assets in 2017 and beyond
The results of the survey show a caution and uncertainty which is reflected in society’s outlook in general. To protect against reduced growth, the CPA offer Insurance Backed Guarantees (IBGs) and deposit protection schemes for both trade and consumer members. To ensure your investments in 2017 remain as safe as possible, call the CPA on 01462 8500 64 or send us a message online.