A report via Bloomberg on the British Chambers of Commerce's trade confidence index
It fell in Q2, but is still at its third-highest level on record
- 68% of exporters are worried about the currency
- Nearly 40 percent of them expect the price of their products to increase in the coming months, mainly due to pressure from the cost of raw materials.
"Many manufacturers are capitalizing on the advantages the fall in sterling has brought to overseas sellers since the EU referendum," said Adam Marshall, BCC director general. "That said, exporters also tend to import raw materials and product components, and are concerned that the sustained depreciation of the pound may erode their margins."
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BCC expects U.K. exports to grow by 3.1% in 2017
- & by 2.9% in 2018
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The survey is of over 3,500 businesses, conducted jointly by the BCC and courier company DHL
