Good morning and welcome to this week’s Friday Brief.
As you can read in this weeks economic news item, the indicators are painting a mixed picture at the moment, with our sector buoyant but some of the wider numbers looking more worrying . to help you make sense of it all there is still time register for our Spring Economic Update that will be held on Thursday 17th May at the MTC in Coventry. You can get more details about this MTA Members event and register to attend on our website at https://www.mta.org.uk/event/spring-economic-update.
Wednesday saw representatives of mechanical engineering trade associations from the UK and across Europe gather in London for a summit on Brexit. They were brought together under the auspices of EURIS, an umbrella group which deals with Brexit issues on behalf of product manufacturers, of which the MTA is a member. The summit agreed to create a EURIS European Network as an advisory body on the potential impacts of the changing relationship between the UK and EU; for Governments, manufacturers and the media. You can find out more in the story below.
The MTA has been working closely with the Department for Education to provide feedback on the Apprenticeship Levy and to help improve and streamline the system going forward. Any Levy-paying MTA members are encouraged to take part in a short remote feedback session below, details of this can be found within the Brief.
The MTA Business Survey for April will be closing early next week, but there is still time to get your return on to us if you have not done so already. Please see the story below for more details on how you can contribute.
The National Apprenticeship Awards 2018 will close for entries at 5pm on Friday 25th May. The awards are a showcase for the amazing results individuals and employers are achieving through apprenticeships and recognise and celebrate the very best success stories.
MTC would like to invite you to the MTC Employer Evening held in conjunction with Orion Recruitment on Thursday 24th May 2018. Join them for an evening of networking, a tour of our AMTC workshop facility and take the chance to meet their current second year apprentices.
Speaking to an invited audience of northern industrialists and young engineers at the University of Sheffield’s Advanced Manufacturing Research Centre (AMRC). Juergen Maier, CEO of Siemens UK and author of the Made Smarter Review, urged industry across the North to commit to embedding technology, information and data into everything they do.
Staying with the AMRC, Twenty-one year old, Ben Siddall from Barnsley became the fifth apprentice to win the honour of being named ‘Apprentice of the Year’ at the Advanced Manufacturing Research Centre (AMRC) Training Centre’s annual award ceremony at the University of Sheffield’s impressive Firth Court Hall on 4 May 2018. More on these stories can be found within the Brief.
There was little surprise that the Bank of England held interest rates at their meeting this week, although this was a significant change from sentiment just a few weeks earlier when a rise was almost “nailed on”. We will look at this a bit more next week, but the weak data for UK economic growth that we report this week undoubtedly played a part in this decision, especially compared to the healthy growth rates recorded for the Euro-zone. Although the manufacturing output data released on Thursday showed a mixed picture for the 1st quarter, there was certainly encouraging news in the strength of the Capital Goods sub-sector and especially the Machinery and Aerospace industries, both of which are key customers for manufacturing technology. This is supporting growth in the Metal Products industry, but the trends for the Automotive industry are of more concern, although it is important not to panic as they are still at a good level, although off their most recent peaks. Finally this week, the latest figures for the Contract Price Adjustment Service that we contract from BEAMA are available.
That’s all for this week, thanks for reading and we’ll be back next Friday with more industry news, until then have a great weekend from everyone at the MTA.