Following on from last week’s item, our colleagues at Oxford Economics (OE) have now updated their outlook for the recovery in industrial output from the Covid-19 crisis. This looks specifically at a recovery profile within the overall forecast and includes some industry detail.
Member Resources
Late last Friday the Government released details of how the Coronavirus Job Retention Scheme (CJRS) will change from 1 July 2020 to allow “part-time furloughs”. We sent this out as an MTA News Update on Monday and this is reproduced here as a back-up.
The European Commission has launched a new web-site - ‘Re-open EU' - to support a safe relaunch of travelling and tourism across Europe. The web-site which is at https://reopen.europa.eu/en/ gives information on the measures taken in each country. You select your country and then explore the various regulations by clicking on the icons in the box on the right of the map screen.
Our colleagues at the AMRC in Sheffield are hosting a webinar on Wednesday 24th June (1pm - 2.15pm) entitled “The New Normal - Safe and productive manufacturing after Covid-19”. Although aimed at the food & drink industry there may be parallels for other types of manufacturing.
Armed Forces Week starts on Monday and culminates Saturday 27th June although most of the actual events surrounding this have been cancelled due to the Covid-19 outbreak.
However, there are still ways that employers can get involved and show your support for the Reservists, Veterans, Service Families and Cadet Force Adult Volunteers within your organisations, including:
The UK government has published a “questionnaire” for businesses moving goods between Great Britain and Northern Ireland, related to what will happen after the Brexit transition period ends in December 2020: This is aimed at gathering contact information about companies to whom this applies so they can receive updates on the protocol for this trade flow as it is developed. The form can be found at https://content.g
The European Association of the Machine Tool Industries and related Manufacturing Technologies - CECIMO - is organizing a webinar on “Additive Manufacturing: An opportunity to fill the gaps in traditional supply chains” on 2 July at 11.00 am (CET).
Our colleagues at Oxford Economics (OE) have just completed their regular quarterly revision of their industry forecasts and the slides from their webinar are attached below and we hope that these notes help in interpreting the charts.
Bank of England Agents’ Summary of Business Conditions, 2nd Quarter 2020: The latest summary from the Bank of England’s Agents shows that manufacturing output continues to be significantly weaker than a year ago despite a modest improvement in recent weeks as companies re-open. Those that are back, are operating well below full capacity and a high proportion of workers remain on furlough or reduced hours. The Bank’s contacts said that they expected social distancing and we
UK Manufacturing Output, April 2020: Alongside the GDP data, the Office for National Statistics (ONS) published the detailed data for the sectors and industries. For manufacturing, they recorded a reduction in output of -24.3% in April (compared to March), with activity over the latest 3 months (February to April) -10.5% lower than in the previous 3 months (November and December 2019 and January 2020) and down by -14.0% on the same period a year ago (February to April 2019)