After a lot of campaigning and debates, in June 2016 the UK voted to leave the European Union, after a close result of 52% voting to leave and 48% voting to remain. The UK’s decision for departure (also-known-as Brexit) resulted in the resignation of David Cameron, former Prime Minister, and fears for the future of Britain.
In the wake of the referendum, the British pound saw a dramatic drop and there were concerns over the trade laws with both Europe and America, but with the negotiations taking the actual departure date well into 2017 there have been some positive changes for the trade industry.
An article by PWR discusses how a survey that was carried out in August 2016 shows that Brexit has really affected the manufacturing industry for the worse by slowing investment down significantly due to “the spike in political risk”.
The article has a similar tone to that of the magazines and media at present because they all seem to wish to talk about the uncertainty of it all as negotiations are still occurring. The only noticeable change as of yet has been the strength of the pound, which has actually resulted in Rayda Plastics seeing an increase in customer orders due to a high number of export sales.
Overall, whilst there is still uncertainty based around Brexit and the economy, it’s not all bad news for the manufacturing industry.
For more information on plastic extrusion, please contact Rayda Plastics today.