UK’s Trade Engine Still in the Slow Lane
In a year that’s seen the globe turbo‑charging its buying‑and‑selling hustle, the UK is still trundling behind. Tradeshift’s fresh Q1 snapshot paints a picture of order volumes that were five points shy of expectations, a steady stretch of lag that’s now the ninth consecutive quarter of under‑performance.
What the Numbers Actually Mean
- Global Pulse: Across the worldwide Tradeshift network, trade activity ticked up by just one point, still cruising three points under the predicted range.
- UK’s Quarter: Total order volumes dropped to five points below the goalpost.
- Other Giants: The Eurozone, the US, and China are all surging ahead—China’s trade traffic growing the fastest in more than two‑and‑a‑half years.
Regional Highlights
- China: Transaction volumes rose two points above the expected level—highest spike in a long time.
- US: Order volumes jumped seven points over the forecast, maintaining a momentum gained last quarter.
- Eurozone: Activity improved to three points below baseline, after having slipped nine points behind just six months ago.
- Manufacturing: Demand in this sector flickered back into the expected range, offering a bright spot in an otherwise uneven yard.
Tradeshift’s C.E.O. Sound Offs
“We’re witnessing successive quarters of solid order volume growth for the first time in two years—except the UK is the only country lagging behind,” said James Stirk, Tradeshift’s chief executive.
He added, “Demand levels are slowly picking up, but we’re still miles away from a normalised trading rhythm. In the short‑to‑medium term, the recovery looks pretty wobbly, especially with the Red Sea crisis and larger geopolitical uncertainty adding to the noise.”
The Cash‑Flow Conundrum
Even as new orders climb, suppliers are still looking like they’re running on empty. Invoice payment times have dropped from the Q3 2022 peak, yet suppliers wait a full 6% longer for cash compared to pre‑pandemic times.
Stirk warned, “Cash flow is the fuel in supply chains, and two hard years less have left many suppliers cruising at low pressure. The longer suppliers take to turn invoices into cash, the more probable it is that coming orders outpace the capital available to meet demand.”
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