The manufacturing PMI for the UK went (just) above the crucial 50 level for the first time since February at 50.1 with the output element slightly higher; this may still be understating the true position. It is important to remember that the PMI’s track a month-on-month trend and given how weak the April and May figures were (both months indicated substantial slowing in activity compared to the previous month), even though we would not expect anything close to a full recovery in June, it...
UK GDP and Investment, 1st Quarter 2020: The Office for National Statistics released the National Accounts for the 1st quarter earlier this week. The main headline is that growth was revised down from the previous estimates and now stands at -2.2% compared to the previous quarter (from -2.0%) and the rate compared to a year earlier is a fall of -1.7% (the earlier estimate was -1.6%). The quarter-on-quarter rate now matches the reduction that was recorded in the 3rd quarter
Members will be aware that the Prime Minister announced changes to the 2 metre rule (or was it advice - the two terms seem to be inter-changeable in Government) with the headline being its replacement with “1 metre plus”.
This week’s news fall into three themes - customs/border controls, the UKCA (UK conformity assessment) mark and progress with trade talks. However, the main message is that the UK Government is sticking to its message that the Brexit transition period ends on 31st December 2020 and it will not be applying for an extension.
The Indian Machine Tool Manufacturers Association (IMTMA), organisers of IMTEX and Tooltech, have advised that the exhibition scheduled for January next year has been moved to 17 - 23 June 2021.
As economies in the Middle East invest in industry to diversify away from their reliance on oil and gas revenues, UK companies are well-positioned to benefit owing to a pro-British stance and wide respect for our engineering skills.
The EPHJ Trade Show for the watchmaking, jewelry, and micro and medical technologies sectors has confirmed that its 2020 edition will take place from 15 to 18 September this year. Having been obliged to postpone its 2020 edition to September due to Covid-19, the largest annual trade fair in Switzerland will in fact take place this year in Geneva to contribute to the recovery of all the high-precision sectors.
On June 30 at 12:00, Make UK will be holding a reminder and update webinar on a range of employment law issues in the context of the Covid-19 crisis.
The MTA are delighted to announce that the Annual Dinner in 2021 will take place on Tuesday 26th January during the week of MACH. The event will be held at the VOX, on the NEC site, and will run straight after the exhibition.
This will be a great chance to celebrate our industry as well as an opportunity to entertain customers in a week where UK manufacturing and engineering achievements will be showcased.
Flash PMI for Manufacturing, June 2020: In advance of the full results which are published on the 1st working day of the month, IHS Markit release a flash estimate for a limited range of countries. The flash June figures generally point to a significant easing of the downturn although, in most cases, the recovery has yet to get underway. The UK is the exception to the latter trend with the manufacturing PMI estimated to be 50.1 in June with the output element of this index