UK logistics sector primed for future growth

UK logistics sector primed for future growth

As one of the UK's leading independent freight and logistics companies, Davies Turner notes that a new report published by Logistics UK outlines how the industry - which generates annual revenues of £1.3 trillion and contributes £185 billion to the UK's GVA performance - is cautiously optimistic for 2024 and beyond, and identifies the areas where the sector can help accelerate the economy.

38% of respondents to Logistics UK’s Industry Survey are anticipating economic improvement for 2024, compared with 2023, but as the trade association's David Wells OBE explains, this year has been one of consolidation in rather challenging conditions; but now the sector is taking steps to prepare so it can exploit the opportunities that will present themselves when the overall economy improves.

The report also contains the latest Logistics UK Business Performance Index, which reveals overall business confidence and levels of investment remain steady and consistent with 2023. In particular, the sector is reporting extremely positive sentiment regarding the adoption of new technology, reflecting the importance of continued innovation in the sector.

And that is certainly the case for Davies Turner's logistics operations, having recently invested in a freight software business - https://www.daviesturner.com/about-us/news-media/davies-turner-invests-in-freight-software-business - won a third party warehouse and logistics fulfilment contract with Lyle & Scott - https://www.daviesturner.com/about-us/news-media/davies-turner-wins-five-year-logistics-contract-from-lyle-scott - and opened our seventh dedicated 3PL facility in the UK - https://www.daviesturner.com/about-us/news-media/davies-turner-makes-it-7up-with-another-major-logistics-hub

The Logistics Report provides a comprehensive benchmark for the industry, reflecting on the past year and identifying future trends and sentiment within the sector. It combines the latest official statistics, insight from industry experts and the findings of Logistics UK’s Industry Survey which canvassed 500 of its members to gauge industry sentiment - details and summary of the report can be found here: https://logistics.org.uk/research-hub/surveys/logistics-report

For more information about the above news items or about Davies Turner’s freight forwarding and logistics services, please contact dartfordsales@daviesturner.co.uk or visit the relevant pages of this website.