Seventy-three per cent of trading businesses in the United Kingdom with 10 or more employees reported in November last year that they could procure the required raw materials, goods or services from within the country without disruption—a rise of 6 percentage points from the figure in October, a survey by the Office of National Statistics (ONS) found.

Twelve per cent were either unable to do so, or had to change suppliers or find alternative solutions, remaining broadly stable over the same period.

Five per cent of such businesses experienced global supply chain disruption in November last year, with 27 per cent of such businesses reporting a shortage of materials as the main reason for the disruption.

In mid-December last year, 85 per cent of businesses reported they were not currently using artificial intelligence (AI), while 83 per cent are not planning to adopt AI within the next three months, both broadly stable with late September 2023 data, an ONS release said.

Nine per cent businesses experienced worker shortages in Mid-December 2023, with 43 per cent of those businesses reporting they were unable to meet demands as a result, both broadly stable compared with late November 2023.

Seven per cent of UK businesses reported that employee hourly wages had increased in November last year compared with October 2023, while 81 per cent reported wages stayed the same.

Nearly four per cent of businesses were affected by industrial action in November 2023, the lowest proportion reported since this question was introduced in June 2022; of those, 32 per cent reported their workforce had to change their working location.

Fibre2Fashion News Desk (DS)

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