London – Fully 70% of respondents to our first sentiment survey of the European flexible foam industry believe that business will be better in the next six months. That figure rises to 80% when respondents look a full year ahead.
Those are the key findings from the first sentiment survey of the sector by UTECH-polyurehane.com/Urethanes Technology International. Online questionnaires were completed between 15 and 22 January 2016.
Selected executives at over 120 companies were surveyed. The net figures for optimism over the next six months was 50% and over a year 60% after respondents feeling pessimistic were subtracted from the optimistic numbers.
Half the respondents said they planned to invest in new machinery and 60% said they planned to hire more staff in the next six months/year.
The survey gives an UTECH-EurFlex Index of 3.4 for the industry’s optimism at the start of 2016.
The UTECH-EurFlex Index is calculated by counting the number of respondents to our survey that say they feel optimistic and then subtracting the number of respondents who responded negatively to a question.
We also take account of the difference between respondents with plans to buy new equipment, hire staff, or reduce production and then we multiply all of these by different factors depending on how positive the action is: Hiring staff, buying new equipment are multiplied by two; additional capacity is multiplied by five.
We plan to repeat the survey in June/July and at six-month intervals. Look out for other surveys