Good morning and welcome to this week’s Friday Brief.
This week saw the annual MTA Forecast Seminar at which we released our new forecasts for the UK machine tool and cutting tool markets, as well as the autumn edition of the Global Machine Tool Forecast. The overall outlook is one of cautious optimism; the global economy is “not too bad”, but with some significant headwinds and risks to a continuation of the steady GDP growth we have seen this year, while the industry outlook is showing a sharp divergence between customer facing sectors such as Automotive and Aerospace (which are generally doing very well) and those sectors exposed to the downturn in investment in China and to lower oil and commodity prices - the main impact is on the Machinery industry, which has been struggling during 2015, a trend that is likely to continue.
Outside the world of manufacturing technology the main news this week was the Purchasing Managers Indices (PMI) for October; there was a sharp increase for the UK with both output and new orders growing at their fastest rate since the middle of 2014 and, more importantly, this acceleration seems to be spread across all of the sub-sectors. The PMI data for the rest of the world is a little more mixed, but generally OK, with some good figures for the US, Japan and Poland and an improvement in China, although the latter remains in negative territory.
We would encourage all members of the association to participate in our monthly Business Survey, you can find the on-line form at http://www.mta.org.uk/mta-business-survey-oct15.
We are able to announce that Sandvik Coromant will be once again sponsoring the Learning and Development Zone at MACH 2016. The Zone will acts as a base for student visitors as well as some key exhibits and a showcase of MTA Members' apprentices and graduates at work.
The Manufacturing Commission, an initiative of the All Party Parliamentary Manufacturing Group, of which the MTA is a member, last week launched its newest Inquiry Report, Industrial Evolution: Making British Manufacturing Sustainable, find out more in the story below.
On Thursday 26th November 2015 the MTC in Coventry will be hosting an all-day seminar de-mystify Industry 4.0. If you wish to attend follow this link for more details www.the-mtc.org/industry4-0.
The European Commission is engaged in its most ambitious programme of free trade agreement (FTA) negotiations in history, potentially worth over £20 billion to the UK economy. The joint BIS/DFID/FCO Trade Policy Unit is conducting a business survey about existing barriers to trade in Australia, New Zealand, Tunisia, Morocco and India. https://www.surveymonkey.com/r/Trade_Negotiations_Stakeholder_Survey_November_2015
The MTA and UKTI are investigating the possibility of taking a UK mission to Russia in 2016. The timing will complement the Metalloobrabotka International Exhibition 23rd- 27th May 2016, if you would like more information on this please email James Fudge for details email@example.com. Still on the topic of exports the MTA has been approached by the department for Innovation and Skills who are reviewing the SPIRE system for granting export licensees. If you would like to feed in to that review further details are below.
The main economic news this week is the Purchasing Managers Indices (PMI) for October; there was a sharp increase for the UK with both output and new orders growing at their fastest rate since the middle of 2014 and, more importantly, this acceleration seems to be spread across all of the sub-sectors. The PMI data for the rest of the world is a little more mixed, but generally OK, with some good figures for the US, Japan and Poland and an improvement in China, although the latter remains in negative territory.
That’s all for this week we’ll be back next Friday with more industry news. Have a great weekend from everyone at the MTA.