How the world changes. Six months ago, manufacturers were reporting record revenues and orders. Now, they're revealing negative trends as the impacts of COVID-19 - the shut-downs, supply chain disruptions and adverse trading conditions - make their way to the order books and sales channels.
As the half-year reports filter through, there is some encouraging evidence of recovery, with the last quarter proving stronger than the first, especially for those manufacturers with diverse portfolios and those able to capitalise on the boom in warehouse activity. But no CEO is brave enough to predict how the year will end - and we can't blame them.
It may still be a bumpy ride, but it looks like there are steady hands on the wheel, so we can be hopeful.