Normally, this publication isn’t issued in the week of Christmas as important news is sparse. However, this isn’t a normal year and the week has been full of important changes and news.
We had hoped that this week would bring news of the UK’s new trade relationship with the EU, but talks are continuing, with traders expecting the pound to plummet on the foreign exchange if talks fail tonight.
The week has started with huge freight queues across Kent and European borders closed to UK citizens, it seems that we are having a taste of what could be to come in 2021.
Material shortage warnings have continued apace, despite falling workloads. This amplifies concerns of the strength of a rebound in prices if workload recovers in the near term given sustained price pressures on materials.