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Friday Brief

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

Firstly, we’d just like to remind everyone that the MTA's Annual Forecasting Seminar will be held on 18th October 2018 at ISCAR Tools Ltd in Birmingham.

The seminar sees the presentation of the MTA’s Annual Forecasts for the machine and cutting tool markets. Prepared by Oxford Economics the forecasts are an invaluable data set, not obtainable anywhere else. The event is also a chance to hear at first hand from leading economists with their take on the economic issues that cause uncertainty in business and ask to them your questions. While the documents and presentations will be available for MTA members, there is no substitute for hearing the presentations and having the opportunity to discuss the implications with the presenters. You can register for the event, there are a few spaces left, here -  https://www.mta.org.uk/event/forecast-seminar-2018.

There is limited space still available for Future Engineering Ireland will take place on 17th January 2019 as part of the National Manufacturing & Supply Chain Conference & Exhibition, at Citywest in Dublin. To find out how you can get involved please see the story below or email FEI@mta.org.uk for more information.

The MTA has secured Professor Anand Menon, who leads the Centre for the UK in a Changing Europe at Kings College London, and is one of Britain’s leading authorities on Brexit, to speak at our Annual Lunch after the AGM on the 4th December.

On Monday 22nd October the MTA will be hosting the Department for International Trade’s BiSEA (Britain in South East Asia ) and UKABC (UK ASEAN Business Council) UK Roadshow at our offices at 62 Bayswater Road, London. South East Asia is a region where economic growth is strong at the moment and if you would like to find out more about this exciting market please see the story below.

The MTA launched a major new service earlier this year, giving members read-only access to the MTA’s standards list at BSI - which contains up to 200 standards relevant to our industry. Its been a real success with many members taking advantage of it as a cost effective way to access standards. If you would like to find out more about this service, and what it could do for you business, please contact the MTA’s Technology Manager Joshua Dugdale at Joshua.dugdale@mta.org.uk.

A free workshop, led by MTA members, 4CM Ltd, will explain why too many businesses fail to align their sales and marketing efforts to match customer behaviour. It will also provide fresh guidance that MTA members can apply to improve the impact of their business development activities. You can find more information on how to attend this event within the Brief.

Every year BSI and its partners offer young engineers the chance to take part in the IEC Young Professionals Programme, all-expenses paid. The Programme brings together the world's upcoming expert engineers, technicians and managers and provides them with opportunities to shape the future of international standardization and conformity assessment in the field of electrotechnology. If this sounds like something you, or someone at your company, would be interested in please see within the Brief for more details on how to get involved.

Our Business Survey for September will be closing early next week, but there is still time to get your return back to us;  https://www.mta.org.uk/mta-business-survey-sep18.

The headline news this week was the UK manufacturing output numbers for August; taking the rolling 3-month trend, this showed an improvement both on the previous 3 months and against a year ago, although at the overall level the growth was concentrated in June.  Some of the industry level figures have been affected by the ONS revising the data (this goes back to the start of 2017) and not all of it corresponds with the anecdotal evidence;  this mainly applies to Aerospace which now appears to be on a gentle but steady downward trend from a peak in May 2017, although it is important to note that the overall level remains high by historical standards.  Alongside this, the ONS’s latest monthly estimate of GDP for the UK economy show growth of +0.7% for the latest 3-month period, equivalent to an annualised rate of +1.5%;  if this is confirmed next month when we get the figures for the full quarter, it will represent a small improvement over the rate for the 2nd period of the year.

In other economic news this week, the latest data from the USA shows an unexpectedly strong month in August ahead of IMTS with the market for both manufacturing technology and cutting tools accelerating when a pause for breath might have been anticipated.  Investment and profitability in the Euro-zone seems to have levelled off with both measures at a good post-recession level, although still below the 2007 or 2008 highs.  Finally this week, we note the availability of a data exchange from IMTS and CELIMO’s latest State of Trade summary.

Finally, this week we have the latest data set for the Contract Price Adjustment Service (CPA) from BEAMA that we subscribe to on behalf of MTA members.

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

MTA FORECAST SEMINAR - THURSDAY 18th OCTOBER

MTA FORECAST SEMINAR - THURSDAY 18th OCTOBER

This is a final reminder about the MTA Forecast Seminar which takes place next Thursday (18th October).  This will take place at Iscar Tools premises in Birmingham, with registration from 0930.  In these uncertain economic times, it is more important than ever to understand the implications of various scenarios in both the UK and the global economy;  the presentations will address these issues.

MTA BUSINESS SURVEY

MTA BUSINESS SURVEY

The MTA Business Survey for September will be closing early next week, but there is still time to get your returns back to us if you have not done so already.  This is one of our slightly longer quarterly surveys, but we hope that this won’t put you off from taking part;  the on-line form available at www.mta.org.uk/mta-business-survey-sep18.   We hope that as many MTA members as possible will take part in this survey as it provides a valuable counter-point to official data and other wider surveys which we report elsewhere this w

Exhibit at Future Engineering Ireland Limited Space Available

Exhibit at Future Engineering Ireland Limited Space Available

Future Engineering Ireland will take place on 17th January 2019 as part of the National Manufacturing & Supply Chain Conference & Exhibition, at Citywest in Dublin.

This one-day event will see over 4000 people from across Ireland’s manufacturing sector descend on Dublin. The National Manufacturing & Supply Chain Conference & Exhibition has been running for a number of years, but for the first time the show is having a dedicated area for manufacturing technologies.

BRITAIN IN SOUTH EAST ASIA (BiSEA) in partnership with the UK ASEAN BUSINESS COUNCIL (UKABC) UK ROADSHOW

BRITAIN IN SOUTH EAST ASIA (BiSEA) in partnership with the UK ASEAN BUSINESS COUNCIL (UKABC) UK ROADSHOW

On Monday 22nd October the MTA will be hosting the DIT’s BiSEA and UKABC UK Roadshow at our offices at 62 Bayswater Road, London.

South East Asia is a region where economic growth and development is expected to exceed the global average for the foreseeable future. With a wealth of natural resources, low-cost skilled labour, and a regional Free Trade Agreement, the great diversity of markets and opportunities are attractive across a wide range of sectors.

Member Service: BSI Standards Access

Member Service: BSI Standards Access

The MTA launched a major new service earlier this year, giving members read-only access to the MTA’s standards list at BSI - which contains up to 200 standards relevant to our industry. Its been a real success with many members taking advantage of it as a cost effective way to access standards. Currently we only have approximately 60 standards identified out of a potential total of 200. As MTA members you are entitled to suggest standards to populate the list.

IEC Young Professionals Programme

IEC Young Professionals Programme

Every year BSI and its partners offer young engineers the chance to take part in the IEC Young Professionals Programme, all-expenses paid.

The Programme brings together the world's upcoming expert engineers, technicians and managers and provides them with opportunities to shape the future of international standardization and conformity assessment in the field of electrotechnology.

The IEC is the world’s leading organization that prepares and publishes International Standards for all electrical, electronic and related technologies.

UK MANUFACTURING OUTPUT AND GDP, AUGUST 2018

Pound
UK MANUFACTURING OUTPUT AND GDP, AUGUST 2018

The latest figures from the Office for National Statistics (ONS) show a small fall in total manufacturing output for August;  however, we prefer to focus on the 3-month rolling trend which shows output in the latest 3 months (June, July and August) grew by +0.8% compared to the 3 months (March, April  and May), with growth of +1.5% compared to the same months last year (June, July and August 2017).  This was largely due to good months in June and July which is a theme we will return to when looking at the monthly GDP data.

OTHER ECONOMIC DATA THIS WEEK

OTHER ECONOMIC DATA THIS WEEK

USMTO and US CTMR, August 2018:  The USMTO - US Manufacturing Technology Orders - programme tracks orders in the US market, based on the reports from participants.  In the first eight months of 2018, manufacturing technology orders are reported to be up by +22.9% compared to the same period of 2017 (January to August) following an unexpected surge in the latest month which saw the highest ever value figure for August.  The rolling 12-month trend (the total for the past 12 months compared to the previous 12-month rolling total) accelerated to +13.3%.

BEAMA CONTRACT PRICE ADJUSTMENT SERVICE

BEAMA CONTRACT PRICE ADJUSTMENT SERVICE

Do you have long-term contracts, either with customers or suppliers?  Have you thought about incorporating something in the contract that allows you to adjust the price according to changes in input costs?

On behalf of members, MTA subscribe to a service provided by our colleagues at BEAMA which gives a monthly track of key indices on labour and materials costs.  Of course, you need to get the principle and the relevant formulas included in the contract, but this gives you a way of updating the relevant prices independently.