The latest figures from the Office for National Statistics (ONS) on manufacturing for the first quarter show the Capital Goods sector was 1.9% ahead of the level it reached at the end of the first quarter of 2012. The output figures, analysed in this week’s Friday Brief, confirm the trend identified in the recent MTA Business Survey which showed Britain’s engineering based manufacturing companies investing in machine tools and related equipment at a faster pace than for most of 2012.
Industries like automotive and aerospace within the Capital Goods sector make up the majority of the customers for manufacturing technologies and these have continued to prosper over the past year. The ONS output figures released yesterday, however, indicate that manufacturing output as a whole which includes non-engineering based production was 2.1% down on a year ago. The summer of 2012 in particular saw a fall in orders being placed as the crisis in the Eurozone unfolded. While it is far too early to say that the crisis is over it is clear that engineering based manufacturing investment is starting to pick up pace.
The MTA’s analysis of manufacturing investment trends is greatly enhanced by as many members as possible contributing to the quarterly MTA Business Survey. The latest returns are being requested and can be sent via the link in this week’s Business Survey story in the Friday Brief.
A timely reminder too for entries to the MTA’s TDI Challenge. Do remind any schools or colleges that you are in contact with of the 24 May deadline. Students only have to submit a copy of their examination coursework for a chance to win prizes, publicity and a visit to a world class manufacturing facility.
Other news this week focuses on the rescheduled MTA Additive Manufacturing Seminar on 13 June. The event in association with Warwick Manufacturing Group will explain the new technologies, and highlight opportunities in the automotive sector. The latest Members’ Quarterly Meeting on 19 June will place the spotlight on ‘Managing Large Contracts’. This dynamic event will feature guest speakers and maximise contributions from attendees. All members are very welcome.
Finally, as detailed in previous Friday Briefs next week is UKTI’s Export Week and just in case you missed the notices they have been included again this week.
Have a good weekend.