It was probably predictable that the soon to retire Governor of The Bank of England in his last press conference this week talked up the prospects for the UK economy in the near future. This was not just wishful thinking as the Bank’s latest review of forecasts for the UK economy and inflation show a modest recovery underway through most of the next two years. This is indeed positive given that the UK since 2008 has been going through the longest and deepest recession since the Great Depression of the early 1930s.
Last summer the Governor urged industrialists to take inspiration from the UK’s athletes competing at the London Olympic Games. This had particular resonance for exhibitors to MACH 2012 as the show was opened by British Olympic Javelin medallist Steve Backley, who proved a particular hit with exhibitors.
Other economic data out this week indicates that the UK economy has been holding its own against a mixed picture across Europe. Interestingly, the ONS bulletin on the UK’s overall trade for 2012 shows mechanical machinery exports at the top of the table and worth £39.4 billion. This category was also second in the import list and worth £31.5 billion, thus giving a surplus of £7.9 billion for a sector so closely linked to manufacturing technologies.
Continuing the attention given to exporting by this week’s UKTI Export Week we have news in Friday Brief of the UK Trade & Export Finance Conference on 11 June. There is also a timely reminder of the MTA’s Additive Manufacturing Seminar in collaboration with the Warwick Manufacturing Group on 13 June. Last call too for entries to the MTA’s TDI Challenge for young budding designers; the deadline for entries is 24 May.
Have a good weekend.