Good morning and welcome to this week’s Friday Brief.
We took a short break from the newsletter last week, due to how busy the MTA team were at MACH 2018. But we’re pleased to say we’re back and refreshed after what was an amazing showcase of the UK’s advanced engineering sector.
MACH 2018 was a great occasion with very positive feedback on the new Hall layout and increased foot flow of visitor throughout the exhibition space. We were also pleased to be join by Steph McGovern and the BBC Breakfast team on the Tuesday of the show for a live broadcast. After we went off air the MTA team caught up with Steph to discuss the importance of careers in engineering, you can see this interview here and get a little flavour of the show. https://www.youtube.com/watch?v=bAiA-PCTBbM
Last week we published some new research showing the true impact of manufacturing on the UK economy. Manufacturing accounts for nearly a quarter of the economy and more than 7.4 million jobs depend on it according to new research commissioned by the MTA.
For the first time ever, the study by world leading economics consultancy Oxford Economics, has taken into account the full impact of the UK’s manufacturing economy, including the indirect effect of increasingly complex supply chains and the induced effect of the spending that manufacturers’ wages create in the economy. For the full report please see the story below.
We also have news on the success of the MTA and the AMRC’s joint project at MACH 2018 and how SME’s can start to adapt to Industry 4.0 technology in their businesses. More details with the Brief.
Generous MACH visitors and exhibitors have contributed almost £3000 towards MTA Chief Executive Officer James Selka's charity bike ride on behalf of Help for Heroes. The MTA CEO will embark on a 300-mile Big Battlefield Bike Ride 2018 in June and we’ll keep you posted on his progress over the coming months.
The VI forum of Kazakhstan Machinery Manufacturers will take place on 20-21 September 2018 in Astana at Expo Congress Centre. Find out how to register below.
The Additive Manufacturing Special Interest Group (SIG) encourages innovation, enhances awareness and fosters knowledge transfer in additive manufacturing and 3D printing primarily for the benefit of UK business to enhance economic growth. They are holding a business breakfast in London on the 24th of May – full details below.
A more flexible way to use apprenticeship service funds is becoming available. Transfers are being introduced to give levy-paying employers more flexibility in how they spend their apprenticeship service funds. They can be used to fund apprenticeships in another organisation, great for groups of companies or SMEs in complex supply chains. Full details are in the story below.
We have published the Spring Updates to our forecasts for the UK machine tool and cutting tool markets. These are available for MTA members to download from our web-site (the details are in the article below). The theme of the forecasts is a general upgrading of the outlook for 2018, with the better than expected performance of the key customer industries largely driving this trend. We remain slightly pessimistic about the market in 2019 because of the uncertainty around Brexit, both for its impact on investment and in leading to a much lower than normal probability of the central forecast scenario (of a successful completion of the withdrawal agreement including a 21-month transition period with unchanged trading arrangements). We are arranging an Economic Update Seminar which will be held on Thursday 17th May at which the UK aspects of this will be explored more fully and we will have an expert speaker on electric vehicles – one of the most challenging trends to our industry (details next week but put the date in your diary now).
The past couple of weeks has seen some important data published, most notably the UK manufacturing output data for February; although the headlines were somewhat muted, there is strong growth in the Machinery, Metal Products and Aerospace industries. In the UK, the Capital Goods sector as a whole is leading manufacturing growth, but in the European data released by Eurostat, it is weaker, although this may be partly because they focus on month-to-month trends rather than the 3-month rolling trend we use for the UK. Data from the USA shows a strong start to the year for both machinery and tooling aspects of our industry and we also have brief reports on profitability figures both domestically and in the Euro-zone.
That’s all for this week, thank you to everyone who made MACH 2018 such an amazing showcase of advanced engineering in the UK - we can’t wait to do it all again in 2020.