04/05/2023
, in meltdown, but hope for opens up 📈
sector in meltdown, on the rise, out of control: this is how looks today when reading the country's macroeconomic data.
Yet, interesting prospects are opening up for Italian companies, since the post-Brexit bilateral memorandum of understanding between and the United Kingdom.
The market across the Channel remains crucial for our economy: in the sector the UK is the eighth most important market in the world, with a €1.2 billion demand for packaging technologies.
Leaving the European Union has had heavy repercussions: the strong political uncertainty goes hand in hand with considerable economic insecurity in the UK; housing investment plummeted after the Bank of England hiked interest rates to curb record inflation (above 10 percent), and mortgage demand came to a screeching halt.
According to the latest on the U.K. sector, the inflationary surge is set to subside in the coming months: in this, the Mecs Study Center also agrees, estimating a recovery to 2026 in demand for slabs and from the UK at around 5 percent per year on average.
Read more about it at 👉 https://www.mecs.org/en/news-press/scenarios/uk-economy-in-meltdown-but-hope-for-recovery-opens-up