Good morning and welcome to this week’s Friday Brief.
First up, we’ll be hosting an MTA Breakfast Briefing in Birmingham on 22nd November entitled ‘Unlocking your intangible assets to drive commercial gain’. This interactive session will be led by Sean Leach, partner in leading intellectual property firm and MTA Associate Member, Mathys & Squire. Find out how you can register for this event in the story below.
Hopefully you already have the 4th December in your diary as the date for the MTA’s AGM, Lunch and Parliamentary Reception. With Brexit front and centre of the news and, increasingly, business’ planning, we have an opportunity to hear direct from one the UK’s best placed experts on the subject, Prof Anand Menon, as well as a chance to get your views over to MPs and Ministers. Get in touch at email@example.com to book your place
Just a little reminder that we launched our first podcast last week and it is still available to listen online, the topic being discussed was our recent forecast for the UK economy. https://www.youtube.com/watch?v=jJYiUrwmNH4
Ten primary and four secondary schools from across the Sheffield City Region are taking part in the nationally recognised Primary Engineer & Secondary Engineer Leaders’ Awards organised by the University of Sheffield Advanced Manufacturing Research Centre (AMRC) to inspire the creative engineering talent of tomorrow.
Join the University of Wolverhampton and their project partners Autodesk, Hurco and Tungaloy, take part in tech demos and contribute on industrial themes such as: Graduate Recruitment, Upskilling, Apprenticeships, Industrial Problem Solving and Research Opportuinites. Find out more about this event below.
UK Export Finance (UKEF) and the Engineering and Machinery Alliance are hosting a join webinar on Wednesday 21stNovember at 2pm. The webinar will guide you through the process of accessing finance support for your exports from UKEF. One of the less commented on initiatives in last week’s budget was an extension to UKEF’s funding capacity so they will have more appetite to help fund exporter in the future making this webinar particularly timely.
The main news this week is the GDP and manufacturing output figures for the 3rd quarter that were released this morning. The main headlines are around the GDP data which showed the fastest quarterly growth rate since 2016 at +0.6%, but this does not hide the fact that the annualised rate only edged up to +1.5% which, for the UK, is a relatively modest rate of growth. Closer to “home”, the manufacturing output data was equally positive overall with growth of +0.6% also recorded here, but in this case the annualised rate is only +1.1%. Within the total, the capital goods industries as a whole did reasonably well with output growth also at +0.6% and an annualised rate of +1.5%, thereby matching the whole economy trends. However, within the total, the industry picture is mixed with Aerospace (strangely) and Machinery (thanks to an exceptional Q1) seeing quarter-on-quarter falls in output, while the Automotive and Metal Products industries recorded growth.
The other piece of economic news released this week was the first view of the structural data from the Annual Business Survey; this is useful as it gives us data on topics such as value added, employment and capital expenditure at a detailed industry level. Overall, it shows an increase in value added but a fall in employment for the Advanced Engineering industries – which implies a rise in productivity on a “per job” basis at least – while capital expenditure fell, although at the industry level there is a mix of fortunes.
That’s all for this week, we’ll be back next Friday with more industry news, until then, haver a great weekend from everyone at the MTA.