What better time to be Head of Procurement?

As we emerge from the uncertainty that June’s Brexit vote created and a typically quieter period economically and politically in August, what have we learnt?

July heralded the announcement that Whitehall is trying to lure the City’s top talent to its Brexit negotiating team to build a 300-strong army of trade experts by the close of the year.

More recently data released at the end of August by the Department for International Trade showed a record number of investments made by foreign firms in the UK in the year to April 2016 accounting for some 2,213 inward investment projects, up 11% on the previous year.

The CBI’s latest growth indicator also shows that activity in Britain’s private sector rose modestly over the summer, in the latest indication that businesses are so far shrugging off the impact of the vote to leave the EU.

Moreover, figures released last week by IHS Markit through their benchmark purchasing managers’ index, showed manufacturing activity surged to a 10 month high in August from 48.3 in July to 53.3.

However, as Simon French, chief economist for Panmure Gordon, very aptly summarised, this is dependent on ‘whether the political forces that shaped the vote to leave also put pressure on the UK to be a more closed nation. This would have much larger ramifications for future inward investment’.

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About the Author

Rupert

Founder and Director of Procurement Heads. Level headed, solutions focused, highly experienced recruiter with a detailed knowledge of the procurement market and the ability to challenge accepted norms to achieve effective outcomes. Specialist for the Southern region.

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