Friday Brief Intro 24/02/2023

Good afternoon and welcome to this week’s Friday Brief! We hope you have all had a great week! Where has the month gone? Thankfully Spring is just around the corner!

First up this week I’d like to remind you that The MTA has been given a table at the National Sales Conference 2023. The event will take place on 23rd November at the National Conference Centre in Birmingham. MTA Members can get exclusive discounted tickets to the event for a limited time. Have a peek at the story below to learn more and find out how to get your tickets.

As you will be aware, the Prime Minister recently announced that the Department for Business Energy and Industrial Strategy (BEIS) is being reorganised with the energy activities split off into a new Department, the science and innovation work placed into another new Department along with the responsibility for digital technologies and the remainder of the business activities merged with the Department for Trade. We have more details on these in an article this week, although there is very little detail on the roles of the various ministers in each department.

Many of you will know that the MTA hosted their Annual Dinner 2023 last night at JW Marriott Grosvenor House London on Park Lane. We were pleased to welcome such a vibrant crowd! Go to the story below to see how the evening turned out.

Enginuity, Engineering UK, MakeUK, National Manufacturing Skills Task Force and Royal Academy of Engineering in conjunction with the Department for Education are delighted to present two events in Manchester and in London. The agenda will feature influential speakers from across the sector, case studies from employers, Q&A with T level students and a networking session with local colleges offering T Levels. Check out the below to find out more.

We have two economic news articles for you this week. The UK section covers the latest results from the CBI Industrial Trends Survey which showed a sharp contraction in manufacturers output volumes in the latest three months with the transport equipment group (automotive and aerospace) among those leading the way down. We also take a look at the latest data on profitability for UK companies, including those in the manufacturing sector – given the importance of this for funding investment, it is disappointing to note that with the exception of the pandemic affected 2nd quarter of 2020, this was at its lowest level since the end of 2010 in Q3-22.

The international news section of economic news starts with the flash PMI’s for manufacturing – for the UK at least this is a case of better but not really good news given that the reading was at its highest since last July but remains below the crucial 50 level. In this section we also have the year-end figures for the US machine tools and cutting tools orders data and the data on orders for Japanese metal cutting machine tool manufacturers – while the latter does not include imports, these are relatively low in Japan, so the manufacturers domestic orders figures give a good indication of the market trend.

That concludes the last Friday Brief of the month. Have a great weekend everyone and ‘see’ you all again in March!

ECONOMIC NEWS – INTERNATIONAL

Flash Manufacturing PMI, February 2023: Although the flash estimate of the UK manufacturing PMI was still below the crucial 50 level, there was at least a significant improvement with the reading of 49.2 being the highest since last July (the last time a positive figure was recorded). The good news is boosted because the output […]

ECONOMIC NEWS – UK

CBI Industrial Trends Survey, February 2023: The latest results from the CBI Industrial Trends Survey saw output volumes in the latest three months* contract at their fastest pace since September 2020. A moderate increase is expected for the coming three months* although the expectations last month were more positive. Because of the use of rolling […]

T Levels in Engineering and Manufacturing

Enginuity, Engineering UK, MakeUK, National Manufacturing Skills Task Force and Royal Academy of Engineering in conjunction with the Department for Education are delighted to present two events in Manchester and in London. Both events are focused on supporting SMEs to engage with T Levels in the Engineering and Manufacturing space. The events will provide a mixture […]

MTA Annual Dinner 2023

Thanks to all who attended the MTA Annual Dinner 2023 last night! We hope you all had a wonderful evening. It was great to be back at a prestigious venue celebrating the strength and resilience of our industry and a special thank you to Close Brothers for once again so generously sponsoring the evening. It […]

National Sales Conference- Discount for MTA Members

The MTA has been given a table at the National Sales Conference 2023 (https://www.nsconference.co.uk). The event will take place on 23rd November at the National Conference Centre in Birmingham. MTA Members can get exclusive discounted tickets to the event for a limited time. The MTA have attended the event before and recommend it for anyone […]

Reorganisation of The Department for Business Energy and Industrial Strategy

Following the departmental changes announced by the Prime Minister, BEIS has been restructured into three new departments: The Department for Business and Trade brings together the business focused functions of BEIS and the former Department for International Trade. The Department will support businesses working both in the UK and abroad, and aims to deliver a single voice […]

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