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2020

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Newsletter Listing intro for week 41

Good Morning and welcome to this Week’s Friday Brief.

Firstly, we’ve a final reminder that the MTA’s Annual Forecast Seminar is being held next Thursday 17th of October at Yamazaki Mazak in Worcester. There will be presentations from Oxford Economics, including from CEO Adrian Cooper, to help you make sense of a world economy that is convulsed with change at the moment. The MTA’s Statistician Geoff Noon will be presenting our annual forecasts for the machine and cutting tool markets. It’s always a popular event but the are still a few seats left so register here .

With the economic uncertainty that we are experiencing it is more important that ever that the MTA can get a sense of how our industry is performing in near real time. To that end please take a few minutes to fill out our Business Survey here . Of course Brexit is only one cause of the uncertainty that we’re seeing but you can find out more about how to prepare for a No Deal exit via the CBI’s online tool here .

Looking a little further ahead, due to operational reasons the date of the AGM has had to be changed from the 4th December to the 3rd December. The venue remains the Cutler’s Hall in Sheffield, look out for more details in the coming weeks.

Even further ahead, the MTA will be hosting a UK Pavilion at Metalloobrabotka in Moscow in May of next year. The international presence at the exhibition, the largest in the Russian market, has been growing in recent years and next year will see us in an enhanced position in the Halls. You can find out more below.

Yesterday saw the MTA host an event at Factory 2050, part of the AMRC, centred around the legacy machines project that was so popular at MACH 2018. This saw simple, affordable, senor technology fitted to old machines to bring them into the Industry 4.0 era. You can find out more below.

In MACH News this week, we were able to confirm that Mission Automotive, part of the Mission Motorsport the charity that we supported at the Annual Dinner, will be joining us at the NEC in April. They work with businesses within the automotive industry to help them match the talents and experience of service-leavers to employment opportunities in a sector that needs their skills and expertise, more below.

Turning back to economics, there is quite a bundle of, mostly UK news, this week. Much of it is dominated by the recent re-write of economic history by the ONS.  The headlines come from the manufacturing output data which is mostly negative and even the only positive trend - the short-term increase in automotive output - is not good news because it reflects a less than complete recovery of output from the pre-Brexit shutdowns that took place in April.  The increased level of output in August (because the usual factory shutdowns have already happened) has not yet made up the gap from April.  All of the other industries that we track show a negative trend in the latest output data.  We now also have the detailed investment data for the 2nd quarter and these show a sharp fall for manufacturing; there is a smaller reduction for the Engineering & Vehicles industry, but the revised Q1 figures show that this took place a quarter earlier in this specific industry group.  The monthly UK GDP figures that flow from the output data point to modest growth in the 3 months to August despite that month itself being negative.  We also take a look at the data from Eurostat that suggests that investment in the Euro-zone was exceptionally strong in the 2nd quarter (in short, we are not sure it is valid) while profitability fell again, before returning to the UK to consider yet another fall in productivity, which was especially steep in the manufacturing industry - again data revisions may be a significant part of this story.

Thanks for reading, we hope to see you next week at the forecast seminar.

MTA at Metalloobrabotka 2020

MTA at Metalloobrabotka 2020

The MTA is delighted to announce it will have a pavilion at Metalloobrabotka 2020 in Moscow, Russia, 25-29th May.

The pavilion, which has been moved to one of the main halls at the show, will host a number of MTA members as well as a lounge, with events planned for during the week. The event will be supported by the MTA’s Russian Office with James Fudge and Igor Bazhenov working on the event.

Legacy Machining Event

Legacy Machining Event

This week the MTA hosted a seminar at Factory 2050, part of the AMRC in Sheffield, giving Members of the MTA and BTMA an opportunity to see the Legacy Project. This joint endeavour between the MTA and AMRC, first demonstrated at MACH 2018, retrofitted a legacy milling machine and lathe with Industry 4.0 sensors.

Mission Motorsport

Mission Motorsport

We are delighted to announce that Mission Automotive will be joining us for MACH 2020. This is a new initiative from the Mission Motorsport charity, which aims to help those leaving the armed forces in their rehabilitation and reintegration into the civilian job market. Mission Automotive is working with businesses within the automotive industry to help them match the talents and experience of service-leavers to employment opportunities in a sector that needs their skills and expertise.

MTA FORECAST SEMINAR

MTA FORECAST SEMINAR

A final reminder that the MTA Forecast Seminar will be held next Thursday (17th October);  the timing is, as the Chinese say, interesting, as it falls on the first day of the EU Summit and two days before the definitive (or is it?) meeting of Parliament, so while we may not be able to give a definite view of the future trends, the event will, of course, include discussion of the various scenarios around Brexit and the implications for our sector.  The three presentations will cover the global economic outlook and an overview of the prospects for key industry sectors, both at home and overse

MTA BUSINESS SURVEY

Survey
MTA BUSINESS SURVEY

The MTA Business Survey for September will close next week but there is still time to file your return - the on-line form at www.mta.org.uk/mta-business-survey-sep19 is still available.  With the uncertainty over Brexit ramping up (again!) as we write this, it is important that we have a good assessment of the state of the industry;  so, although this is one of our slightly longer quarterly surveys, we hope that as many MTA members as possible will participate in the survey.

ECONOMIC DATA THIS WEEK

ECONOMIC DATA THIS WEEK

UK Manufacturing Output, August 2019:  The latest manufacturing output data from the Office for National Statistics (ONS)  has been subject to the extensive revision (or perhaps more accurately a re-write of history) that we discussed last week in our piece about the UK National Accounts.  An initial reading suggests that while most of the numbers have changed, the trends remain broadly similar to the pre-revision estimates except, of course, that we now have an extra month of data.