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THE YEAR TO COME Economic indicators are mixed for 2006.
Page 18
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The Chartered Institute of Purchasing and Supply has surveyed 700 companies, which are showing their highest level of business activity since April 2004.
But at the same time, credit agency Experian predicts a rising number of business insolvencies.
Barclays Bank forecasts more growth than in 2005but that is not saying much. It predicts GDP will grow by 2.1`%, (from 1.7% in 2005). Oil production is still weak, as is manufacturing.
The construction sector is still growing and. at 2.5%, is slightly up on last year. but still falls short of the 3.3% hike it saw in 2004. Private building demand is somewhat stronger than public sector building.
Trading conditions for retailers have been tough and its still too early to collate the Christmas trading data but predicted growth for 2006 is a sluggish 2%. Any pick-up in sales will be modest.
As these sectors underpin the need for road transport, it's no surprise that Barclays' forecast for transport and storage growth is also around the 2% mark. But if the Plimsoll survey is correct, the internal transport market is far more volatile than any market average would suggest.