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Friday Brief Archive

2021

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Friday Brief 07/05/21

Good morning and welcome to another weekly roundup of news! We hope you all had a great bank holiday weekend, what a great way to start the month of May! 

This week we are very happy to welcome our newest ASSOCIATE MEMBER, LOOPCYCLE. LOOPCYCLE is a digital platform that embeds industrial-scale product traceability, redefining the management, recovery and resale of valuable underutilised and end-of-life products. 

An interesting development to a well known company in the industry, Innovate UK has a new permanent chief executive, after a gap of more than three years. He is Indro Mukerjee, a technology business leader with extensive international and marketing experience who has run publicly listed and private equity companies, and new businesses. To read more take a look below. 

You can also find an update on travelling to the EU for work in this week’s Friday Brief, so make sure to read the newest information if this will affect your business. 

SHEP (which The MTA is a member of) have received the following communication from the HSE. Here are the topics that are covered in the story below: HSE inspectors are visiting fabricated metal businesses, Prepare for your inspection – guidance tools to manage the risk of welding fumes and metalworking fluids in your business and HSE shines a spotlight on lung disease. 

The main economic news this week was another set of strong data from the Purchasing Managers Index (PMI) data for the manufacturing sector.  Most countries, including the UK, saw a higher reading in April than in March, driven by a combination of higher orders, output and employment, but also helped along by lengthening delivery times and higher prices.  There are, of course, some exceptions and we explore this in our article below. 

The only other economic news was the preliminary flash estimate of European GDP from Eurostat.  As anticipated in our recent economic update webinar, the overall trends for the EU and the Euro-zone are showing a double-dip recession (two consecutive negative qu.arters of growth in Q1 & Q2-2020 and again in Q4-20 & Q1-21), although this is not the case for all of the individual countries.  Again, more details below. 

Finally, a reminder that the MTA Business Survey for April was launched this week and remains open for your input at www.mta.org.uk/mta-business-survey-apr21 and we would encourage all members to participate in this important survey - it should only take a couple of minutes. 

We’ll be back next Friday with more industry news. We hope you enjoy your weekend.

Innovate UK gets permanent CEO

Innovate UK gets permanent CEO

Innovate UK has a new permanent chief executive, after a gap of more than three years.  He is Indro Mukerjee, a technology business leader with extensive international and marketing experience who has run publicly listed and private equity companies, and new businesses. 

ECONOMIC NEWS

ECONOMIC NEWS

European GDP, 1st Quarter 2021:  The preliminary flash estimate from Eurostat shows Euro-zone GDP falling by -0.6% compared to the final period of 2020;  as this follows a reduction of -0.7% between Q3 and Q4 last year, the Euro-zone has entered a 2nd phase of the recession usually referred to as a “double-dip”.  For the EU as a whole, the Q1-21 GDP trend was -0.4%, so this too is in a double-dip recession.

Compared to the 1st quarter of 2020 (a year ago), GDP in the Euro-zone has fallen by -1.8% with a -1.7% decline for the EU as a whole.

PURCHASING MANAGERS INDEX FOR MANUFACTURING

PURCHASING MANAGERS INDEX FOR MANUFACTURING

The Global Purchasing Managers’ Index (PMI) for manufacturing produced by J P Morgan using the data from IHS Markit came in at 55.8 for April, although not all of the data was available when this was published on Monday.  It indicates another improvement on an already strong rate of expansion for the sector across all of the elements but there are notes of caution around the continued supply-chain pressures which are boosting the reading when they are a negative at the moment and record output price inflation as costs rise sharply.