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Newsletter Listing intro for week 42

Good morning and welcome to this week’s Friday Brief.

This week saw the MTA host one of its flagship events, the Annual Forecasting Seminar with Oxford Economics. The event took place yesterday at Renishaw’s Innovation Centre, in Wotton-under-Edge in Gloucestershire. The Forecast Seminar is always a very well attended event and the presentations and economic data are now available to download from the member’s area of the MTA website.

The MTA is launching a new website in the near future, we are asking all members to contact Tom Lane (PR and Communications at the MTA) with up-to date

Thursday saw MTA CEO James Selka appearing before the House of Lord’s European Affairs Select Committee to discuss Brexit. The Committee is conducting an Inquiry to ascertain what the Government’s priorities should be in relation to setting the future landscape for trade the between the UK and the EU. Please see the below story for more details.

MTA members SolidCAM UK Ltd are pleased to announce that they are opening a new Technology Centre based in Little Horwood, Milton Keynes on 1st November 2016. They are opening the centre in response to ever-growing consumer demand and to stay ahead in what they describe as a competitive and fast-moving market.

The MTA is a corporate member of the CBI and as such they are extending an invitation to our members to attend their Annual Conference on 21st November. If you’re interested in taking part, all the details are below.

In the Economic News section this week we report on some export/import data for the key industry sectors in the UK, some new data comparing the UK’s productivity performance with our international peers and the latest figures for the cutting tool market in the USA; the latter includes a very positive outlook for 2017 which you can read more about by following the link to download the USCTI News Release.

That’s all for this week, we’ll be back next Friday with more industry news, until then have a great weekend from everyone at the MTA.

ECONOMIC DATA THIS WEEK

ECONOMIC DATA THIS WEEK

UK Exports & Imports by Industry, 2nd Quarter 2016:  The Office for National Statistics (ONS) recently released data showing trade by product which can then be turned into data for specific industries.  In the 2nd quarter of 2016, exports of all engineering products accounted for 52% of deliveries of all manufactured products and was worth £34.75 billion;  this is an increase of +6.3% compared to the previous quarter and was +7.0% higher than a year earlier.  The rolling 12-month trend shows growth of +2.0%

CBI Annual Conference - invitation to MTA members

CBI Annual Conference - invitation to MTA members

The CBI are pleased to extend an invitation to the CBI Annual Conference on 21st November to your members at a discounted rate of £165 plus VAT.  If you would like to pass this invitation on to your members, please feel free to use the text below and this link - https://cbi-conference.com/passtypes, which will take them to the right booking page where they will then need to select the CBI Members Trade Association box to ensure the correct discounted rate is applied.

MTA gives evidence in Parliament

MTA gives evidence in Parliament

Thursday saw MTA CEO James Selka appearing before the House of Lord’s European Affairs Select Committee to discuss Brexit. The Committee is conducting an Inquiry to ascertain what the Government’s priorities should be in relation to setting the future landscape for trade the between the UK and the EU.

The committee was initially focussed on the trade in goods and the key point that James wanted to make was that to treat goods and services as wholly separate spheres is to misunderstand the nature of both the manufacturing technologies sector and indeed the economy in general.

NEW MTA FORECASTS

NEW MTA FORECASTS

Delegates at this year’s MTA Forecast Seminar, held on Thursday at Renishaw’s Innovation Centre, heard our old friend John Walker (Founder and Chairman of Oxford Economics) share the news of the relatively weaker prospects for the UK economy in the light of Brexit, as well as discussing other global economic events.  In the overview session, we heard that global growth is at its slowest since 2008 and any acceleration in 2017 is likely to be modest at best, with private sector debt levels increasing, unfavourable demographics and an excess of global saving all constraining activity around t