Trends Report (Cont’d from Page 3)
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Labor shortages are reported by both printers 47 percent and suppliers 39 percent. Conventional press operators and finishing staff are hardest to recruit for printers and manufacturing and techni- cal support staff amongst suppliers. Supply chain issues have loomed large for both Printers 63 percent and Suppliers 73 percent, al- though all expect issues to be less next year. Capi- tal expenditure fell back during the pandemic and there was an inevitable lag last year but demand picked up strongly in 2023 with even higher fore- casts for next year. There was the expected sus- tained demand from Packaging printers, and an en- couraging surge from Commercial and Publishing printers, while Functional printers returned to lev- els not seen since 2018. As usual, print technology and finishing equipment are the strongest targets by far. Capital expenditure amongst suppliers was rela- tively flat at just +4 percent net balance. Howev- er, all were bullish for 2024 at +24 percent across all markets, particularly for the Functional market. Building sales channels, raising efficiencies and de- veloping new services are the preferred targets.
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Both printers and suppliers have increasingly re- lied on diversification to create growth, though the rate of change is slower as trading has returned to more normal patterns post-Covid. Socio-economic issues loom as large as ever over all regions. The risk of economic recession is the top concern 47%, knocking the impact of pandem- ics into second place 41%. However, beyond the top two issues there were major variations across almost every region. For example, South/Central American printers were concerned about Political instability 52 percent, African printers highlight- ed currency issues 51 percent, Australian printers
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Flexo Market News December 4, 2023 9
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