Transport and storage businesses remain upbeat despite an overall deterioration in business confidence, according to the latest ICAEW/Grant Thornton UK Business Confidence Monitor.
The BCM Confidence Index stands at +1.1 for the third quarter of 2012, down from +12.0 in the second quarter. However, the transport & storage sector stands at +8.9.
Expected export growth over the next 12 months is broadly at pre-financial crisis levels though, meaning an export-led recovery remains a possibility.
Grant Thornton director Philip Bird said: “The transport & storage industry has shown some good resilience during the turbulent last few years. Confidence does prevail, however challenges remain. Innovation within the sector is key to its success. The next 12 months will likely be a period of consolidation with the creation of more companies of scale and the ability to invest in innovation and diversification of their business models.”