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Industry Focus

Advanced Manufacturing is a dynamic, globalised, sector which is constantly evolving. Much of that evolution is as a consequence of technological change which is happening at a faster rate than ever before. Manufacturing Technology that change right across sectors and in companies of all sizes. The MTA exists to help its members transform the manufacturing world.

With publication of the data for September data by the Office for National Statistics (ONS) we get the complete picture for the 3rd quarter of the year;  this article will focus on that period, with references to individual monthly trends where needed.

The MTA Business Survey for October has been running this week and although there has been an encouraging level of response, we can always do with more.  With the last minute extension of the Job Retention Scheme last weekend, we have a question to gauge the likely take up of this amongst MTA members so we would encourage everyone to take a couple of minutes to respond to the survey.  There is an on-line form available at www.mta.org.u

Bank of England Monetary Policy Report:  At its meeting this week, the Monetary Policy Committee (MPC) of the Bank of England voted unanimously to maintain Bank Rate at 0.1%.  The Committee also voted unanimously for the Bank of England to maintain the stock of sterling non-financial investment-grade corporate bond purchases, financed by the issuance of central bank reserves, at £20 billion and for the Bank to continue with the existing programme of £100 billion of UK governm

The Global analysis of the Purchasing Managers’ Index (PMI) for manufacturing produced by J P Morgan using the data from IHS Markit Improved again in October with the reading of 53.0 being the highest in nearly 2½ years.  All of the references to the PMI in this article refer only to the manufacturing sector.

Purchasing Managers’ Index - flash readings for October:  The flash readings of the PMI for the UK, Euro-zone and USA showed a divergence in this month.  We will cover these in more detail next week with the final data being published on Monday/Tuesday but the Flash readings are based on about 80% of the final data and don’t often move significantly.

CBI Industrial Trends Survey, October 2020:  Before we look at the results of the CBI Industrial Trends Survey (ITS), it is perhaps important to note that the data collection period was from 25th September to 13th October.  This was before the latest lockdowns under the impact of the Coronavirus and, at least initially, was a period when a Brexit trade deal looked likely.  There may, therefore, have been some shift in sentiment since the data was collect

This week saw the MTA Forecast Seminar move on-line although it retained its usual format of having 3 presentations around the topics of the macro-economic situation, the global industrial outlook and the specific forecasts for the manufacturing technology industry.

Euro-zone Industrial Production, August 2020:  Data released this week by Eurostat saw a slowing of the growth rate compared to the previous couple of months;  although this is seasonally adjusted, there may still be an element of the holiday season behind this.  Total industrial production in the Euro-zone was +0.7% higher than in July with growth on the same basis of +1.0% for the whole of the EU.  However, compared to a year earlier (August 2019), output was -7.2% lower in the Euro-zone...

UK Manufacturing Output, August 2020:  The headline from the latest data for manufacturing output from the Office for National Statistics (ONS) shows growth of +11.3% in the latest 3 months (June, July and August) compared to the previous 3 months (March, April and May).

The MTA Forecast Seminar is moving on-line this year.  Given the current circumstances, it is even more important that you get an up to date view of the economic prospects for the global economy and the industrial sectors to which your customers belong.

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