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Friday Brief

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

This week saw one of the MTA’s key annual events, the Forecast Seminar and the publication of our forecasts for the UK’s Machine Tool and Cutting Tool markets. The event was kindly hosted by Iscar Tools at their Birmingham premises. Delegates heard from Adrian Cooper, CEO and Chief Economist of Oxford Economics and Jeremy Leonard, Director of Industrial Services at OE and the MTA’s own statistical guru, Geoff Noon. The big macro picture is one of a buoyant world economy, albeit threatened by a looming trade war and, more locally, Brexit. You can find out much more in the story below.

The MTA has partnered with National Sales Academy (NSA) to provide MTA members with a 20% discount on attending their one day conference at the Ricoh Arena on 28th November. The event is design to improve motivation and performance, see the story below for more details.

You may have seen that the Prime Minister last week announced a consultation on ethnicity pay reporting alongside a Race in the Workplace charter. There is an opportunity to engage with the consultation below.

Mental Health in the workplace is something that can affect all business, early this year we held a half day seminar on the issue at the MTC in Coventry. Due to the success of this event we will be re-running the session on 13th November at the NIKKEN Innovation Centre Europe (NICe) IN Rotherham. For more details email events@mta.org.uk

Alpha-I, a software company which builds machine learning platforms, won a two-day hackathon organised by Rolls-Royce. The competition took place at the AMRC and the winning team saw of a strong field of 11 other companies to win the £10,000 top prize and a partnership with Rolls Royce.

Cyber crime is a growing threat but one which business often struggles to get to grips with. We have a guest feature written by David Atkinson, Head of Manufacturing, Commercial Banking, Lloyds Banking Group, highlighting that ‘Manufacturing is the second most targeted sector for cyber risk’. Find out more information on how you can protect yourself in the article below.

Quite apart from the forecast it’s a been bumper week for economic data. Data on industrial production in Europe showed an upturn in August compared to both the previous month and a year earlier with the capital goods sub-sector generally running slightly ahead of the overall total. We also take a look at UK exports by industry for the 2nd quarter of 2018 which shows a significant deficit overall, although one which is concentrated in a couple of industries;  there is also an overview of a related paper from the ONS about the UK’s trade deficit in goods and how it has changed over the past 20 years.  The latest data on productivity is also covered this week and we point members to where you can find counts of the number of UK companies by industry, region and employment size – data that would be useful if you are trying to get an idea of how and where potential customers could be located around the country.

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

NEW MTA FORECASTS

NEW MTA FORECASTS

We released our new forecasts for the UK machine tool and cutting tool market at the Forecast Seminar held yesterday at member company, Iscar Tools Ltd.  Delegates heard Adrian Cooper, CEO and Chief Economist at Oxford Economics (OE) paint a picture of a global economy that is still growing, albeit at a slower pace than in 2017, in the face of a range of issues including increased protectionism, the Chinese Government’s attempts to re-balance its economy, over-valued equity markets, rising US interest rates (which is felt most acutely by emerging markets) and, more specifically for the UK,

MTA Partners with the National Sales Academy (NSA)

MTA Partners with the National Sales Academy (NSA)

We have partnered with the NSA because the MTA is passionate about Continuing Professional Development (CPD) and investment in people.

The NSA is a one day conference designed for Account Managers, Business Development Managers and Sales Executives to improve motivation and performance. Held at the Ricoh Arena on the 28th November.

All MTA Members receive a 20% discount to this year’s conference featuring Sir Clive Woodward with his Keynote talk on “The DNA of a Sales Champion”.

Rolls-Royce Hackathon

Rolls-Royce Hackathon

A software company specialising in AI-powered maintenance solutions for aerospace is flying high after taking the top spot at a two-day hackathon organised by Rolls-Royce.

Alpha-I – which builds machine learning platforms working with some of the largest aircraft and component manufacturers in the industry - beat 11 other teams to be named champions of the manufacturing hack held at the University of Sheffield Advanced Manufacturing Research Centre, winning £10,000 and a partnership with Rolls-Royce.

ECONOMIC DATA THIS WEEK

ECONOMIC DATA THIS WEEK

European Industrial Production, August 2018:  The latest data from Eurostat shows that total industrial production in the Euro-zone increased by +1.0% compared to July and was +0.9% higher than in August 2017;  for the EU28 as a whole, the equivalent figures were +0.8% and +1.2% respectively.  Note that total industrial production includes manufacturing along with the extraction and utilities industries.

Manufacturing is the second most targeted sector for cyber risk…

Manufacturing is the second most targeted sector for cyber risk…

by David Atkinson, Head of Manufacturing, Commercial Banking, Lloyds Banking Group. 

Fraud and cyber security risks continue to reach high levels across the manufacturing sector. According to the 2017/18 Kroll Annual Global Fraud & Risk Report, 86% of manufacturing executives reported that their companies fell victim to at least one instance of fraud over the past twelve months - two percentage points higher than the global average across all industry sectors.