Positive GDP figures due to confidence in print industry

It’s always nice to head into the weekend with some positive news regarding the print industry. The latest news relates to positive gross domestic product (GDP) figures within the UK and how they are in part down to renewed interest and confidence in the print industry, as Print Week reports.

An industry expert from the British Printing Industries Federation (BPIF) has come forward stating that within the industry both orders and confidence are on the up, and this may have helped to secure the 0.7% increase in GDP recorded in Q2 of this year, compared to the 0.4% growth recorded in Q1.

Output in printing and the reproduction of recorded media increased by 0.5% in Q1 of this year, compared to Q1 of 2014; output in the manufacture of paper and paper products also increased in Q1 of this year – by 2.2% compared to Q4 of 2014.

Kyle Jardine, the research and information manager for BPIF, stated: “Printers will take heart, the economic background is improving. From talking to our members, I’d say the upbeat figures echo a more upbeat feeling among printers.”

He went on to note that both orders and confidence are improving, leading to positivity within the sector from both customers and businesses.

Print falls under the sector heading of ‘manufacturing’ when measuring GDP. While some print and paper sectors have experienced growth (as shown above), manufacturing actually contracted by 0.3% in Q2.

There are also some worries regarding the future of the industry in Europe. The European economy, austerity and budgets are leading to some concerns in the industry, but further figures related to the print industry are due to be released later this month by the Office for National Statistics. These will hopefully show even more growth.

We’re naturally happy that the print industry seems to be positively influencing the UK’s economic recovery; can you think of any specific reasons why print is experiencing such growth? Do you think the situation in Europe will dampen progression in the industry?