Last quote by Rain Newton-Smith
Rain Newton-Smith quotes
Companies are sounding the warning bell as they get to grips with increasing uncertainty.
Cold weather put a chill in sales of spring and summer ranges with a reported dip in retail sales in the year to April, but with the near-term outlook for household spending holding up the sector expects a modest rise in sales next month.
Manufacturing has yet to pick-up after a flat start to the year, with falling orders providing little impetus for production.
It's encouraging to see that sales are holding up and expectations have picked up further.
Overall, conditions remain challenging for retailers. Although sales have continued to grow and optimism has risen, expectations for sales growth are lacklustre and retailers are still wary of investing.
Despite the turbulence in emerging markets, economies such as China still represent a huge opportunity for British industry.
But now they're also facing pressure back home as domestic demand is easing. While on balance firms expect orders to stabilise next quarter, it's disappointing that firms are having to scale back their investment in innovation.
Manufacturers have been struggling with weak export demand for several months, because of the strength of the pound and subdued global growth.