Palletline has released The Haulage Confidence Index, which compiles the results of a new quarterly nationwide survey of business confidence among UK road hauliers.
The survey was commissioned by Palletline in order to begin the process of building much needed qualitative data for a major industrial sector. It will be repeated in early 2006 and quarterly thereafter, enabling confidence trends among hauliers to be systematically tracked.
Members of Palletline's 60-strong UK network of hauliers were surveyed on their views of trading and economic conditions compared to twelve months ago, overall business confidence for 2006 and the key issues facing hauliers.
The survey revealed cautious optimism for 2006 among the majority of respondents, with market conditions predicted to improve slightly following a tough trading year in 2005.
Fuel prices remain the single most important issue affecting business prosperity, although in the midlands, northeast and southeast, this is exceeded by price pressures from customers.
Among key performance indicators, business turnover is expected to grow most, followed by profit levels, capital investments and employment requirements.
Current economic conditions were considered about the same or slightly worse than a year ago, but confidence improved in terms of forecasts for the months ahead, with business reporting improvements to individual operations over the last year, and continuing through 2006.
According to Palletline's managing director Glyn Jones, the survey provides a snapshot of the mood of the UK road haulage industry – arguably a leading indicator of the economy as a whole.
“By undertaking this research quarterly, we will see how attitudes and confidence within the industry are changing in the light of economic trends and other issues affecting the sector,” said Jones.
