GfK reports encouraging signs for the writing instrument market in the UK over the back-to-school period, with reported value growth of 4.4% in August this year compared to the same month in 2009.

Many top stationery manufacturers have benefited from these positive figures and fast-improving exchange rates mean the strain on profit margins begin to ease. While this is encouraging news for manufacturers, the favourable exchange rates should equally serve as a stark warning. As the relative price of imported goods from the Far East continues to drop, it is inevitable that we will once again see an increase in own-labels taking further shelf-space from the key brands.

GfK says it was a surprise to see that for the first time in 18 months the B2B channel grew year-on-year in June, however despite the positive trends observed within the high-street retailers and supermarkets this is unlikely to be signalling a recovery in the B2B market.

"After the election results, our expectations as regards the economy were firmly managed by the new government," commented GfK analyst Josh Fedder. "Following a subsequent fall in consumer confidence we can expect stationery budgets to continue to be carefully handled as the long and challenging road to recovery continues."