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2021

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Friday Brief Intro 22/10/2021

Good afternoon and welcome to this week’s Friday Brief. We have some really interesting stories for you today.
 
Our lead story this week is the report of our Forecast Seminar which was held on Thursday;  delegates heard three presentations covering the macro-economic picture, the outlook for our key industries and the new forecasts for the UK market for machine tools and cutting tools.  You can find a summary of this in the article below which also includes a link to download the documents and presentations from what is a highly valued MTA member service.
 
Find out about all the activities that Innovate UK and KTN are working together on for the Made Smarter Innovation Sustainable Smart Factory Competition in the story below. KTN are working with Innovate UK to help scope a £20m competition on this theme of digitisation for energy and resource savings. It’s to be called “Made Smarter Innovation: Sustainable Smart Factory” and you can hear more about it at their event on 19th October.

The new UK National Security & Investment Act 2021 comes into effect fully from 4 January 2022. The Act gives the government powers to scrutinise and intervene in acquisitions that may pose national security risks. To find out more please go to the story below.

18th October marked World Menopause Day, aiming to raise awareness of the menopause and support options available to improve women’s health and wellbeing. With six out of ten women experiencing menopausal symptoms that negatively impact their work life, it’s vital that employers are aware of the obstacles facing menopausal employees and what support they can offer. To download the guide for support please go to the story below.

The Net Zero Strategy sets out how the UK will deliver on its commitment to reach net zero emissions by 2050. Building on the Prime Minister’s 10 Point Plan, this week’s UK Net Zero Strategy sets out a comprehensive economy-wide plan for how British businesses and consumers will be supported in making the transition to clean energy and green technology.

At the Institute of Export & International Trade (IOE&IT)’s first in-person annual general meeting (AGM) in two years, held this week, attendees heard about the organisation’s growth in the past 12 months. Check out the details in the story below.

The general economic news is led by the results of the CBI Industrial Trends Survey which were also published yesterday;  this shows a manufacturing sector that is bearing up reasonably well under the challenges from a range of supply problems. Orders growth is leading to an increase in backlogs, so if the input side of the business can be resolved, the prospects for growth look good.  This is also a theme picked up by the flash PMI’s for manufacturing where orders are generally good but output is constrained by lengthening supplier delivery times - the latter is also having a perverse impact on the overall index as the calculation assume that longer delivery times is an indicator of improving activity in the sector.
 
Work on the forecast seminar has delayed the completion of our Business Survey this month so, if you have not done so already (and thanks to those members who have replied), there is still time to let us have your input at https://www.mta.org.uk/mta-business-survey-sep21.

We hope you have enjoyed keeping up to date with us this week and look forward to ‘seeing’ you again at next week’s Friday Brief!

MTA Forecast Seminar 2021

MTA Forecast Seminar 2021

Delegates to our annual Forecast Seminar this week heard discussions of the prospects for global economic growth, the varying prospects for the key industries and our latest forecasts for the UK machine tool and cutting tool markets, along with the Autumn edition of the global machine tool forecast. The event was kindly sponsored this year by our colleagues at Marsh Commercial.

ECONOMIC NEWS

ECONOMIC NEWS

CBI Industrial Trends Survey, October 2021:  The results from the CBI Industrial Trends Survey (ITS) paint a picture of a resilient manufacturing sector in which output volumes grew strongly despite a range of supply challenges and cost/price pressures. The survey identified an easing in total orders but this comes as a comparison with the multi-decade high levels registered last quarter - as a result, total orders growth remains at a high level.  The slowdown in orders was mainly in the domestic market with export orders growing at a broadly similar pace to the 2nd quarter.