The Ireland Logistics & Supply Chain Confidence Index which was released today by CBRE in association with KPMG at the commercial property specialists headquarters in Dublin today (28 March) showed that confidence in the the sector is down year-on-year.
One of the key findings showed that, confidence amongst both logistics operators and shippers in the Irish market is down as a result of economic uncertainty with the index coming in at 60.4 compared to 72.7 in 2016.
The latest survey of confidence and expectations was untaken by specialist research agency Analytica and more than 50 senior decision makers from across in the Irish logistics and shipping sectors participated in the survey.
Commenting at the release of the report, Garrett McClean, executive director and head of Industrial & Logistics at CBRE in Ireland commented “Since last year’s inaugural Logistics & Supply Chain survey for Ireland was conducted, it is fair to say that the landscape has changed immeasurably, with seismic events affecting Ireland’s two largest trading partners."
"Concerns such as last June’s unexpected Brexit referendum result and the election of a new President in the United States have exercised the minds of respondents to this year’s survey and it is no surprise that there has been a deterioration in overall confidence in the sector year-on-year considering the more uncertain backdrop”. He added.
Half of the respondents said that they are more confident about business conditions in the logistics and supply chain in the then they were a year ago. However, this figure is down 16% on last year.
Fionn Uibh Eachach from KPMG said: “This year’s survey is again another detailed insight into the mind-set of the key players of the logistics and shipping industries which has shown a decline in overall confidence in the sector. It is not surprising to see this decline given that potential increases in customs duties and administrative costs could affect international trade into and out of Ireland. Hence it is particularly important for companies in the logistics and shipping industry to be undertaking planning now for a post-Brexit world.”
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