More transport firms are predicting a reduction in turnover than expect an increase next month, painting a gloomier picture than those for retailers and manufacturers, according to ParcelHero.
It said government figures also showed the transport and storage sector had suffered a significant decrease in revenue in August compared to the previous month, with 27% of all businesses seeing a reduction in turnover.
ParcelHero said transport and storage was among the hardest hit sectors, with 31.5% of companies seeing their sales reduce.
David Jinks, head of consumer research, said looking ahead, there did not seem to be light at the end of the tunnel: “More transport and storage sector companies expect a fall in October’s turnover than predict a rise,” he said.
“18.8% of transport and storage sector companies anticipate a fall in turnover in October and only 16.8% think there will be an increase.
“When we compare that figure to their manufacturing partners, there’s a striking difference. Only 8.4% of manufacturers predict a fall in turnover this October, while 22.4% forecast an increase.
“Transport and storage companies’ retail partners are also more confident; while 12.9% forecast a decrease in October’s turnover, 21.3% expect a better performance.”
Jinks added that transport and storage incorporated some fast-changing, agile industries and since the end of Covid lockdowns parts of the logistics and home delivery market had “yo-yoed” as they struggled with aging infrastructure and a fixed cost base.