Friday Brief 17/11/2023 W46

Good afternoon and welcome to this week’s Friday Brief! We want to say a big thank you to everyone that attended the MTA’s AGM on Wednesday! We hope you enjoyed the event, it was great to network and catch up with members!

To begin this week’s newsletter, we would like to introduce you to The Made in the UK, Sold to the World Awards. They are your opportunity to receive recognition for the exceptional growth your business has achieved by trading internationally. Find out the categories in the story and visit their website through the link for more information.

The UK Export Academy provides free support to help your business discover your export potential, increase your knowledge and upskill you or your team’s knowledge of overseas sales. Sign in to the new platform to access a huge range of virtual and in-person events to support your export journey in the story below.

Jack Semple, Secretary of EAMA, provides a summary of some of the key changes to the Government which took place this week in the Prime Minister’s re-shuffle. It focuses on the appointment of David, now Lord Cameron as Foreign Secretary and changes to the ministerial line-up at the Treasury which now has a distinctly “remain” look to it.

One of our Associate Members, Croner have the latest resources that have been posted on their website. Theye have recently published an article detailing the changes to UK Holiday Entitlement Law and how this may impact your business. They also have several exclusive webinar sessions coming up. Find out more details below.

In response to the increasing demand for skilled workforce in the emerging digital and green era, CECIMO has initiated a survey to produce a comprehensive report that will complement the study on “Transformation of Manufacturing: Embracing Digital and Green Skills. This survey aims to establish an up-to-date skills database as a valuable reference for industrial stakeholders, education centres and policymakers. Check out all the details on the survey in the story.

There has been a bumper set of data released this week – so much so, that we have split our economic news into three articles. For the UK, we report on the trade data for the 3^rd quarter that was published last week, including a look at the latest export/import figures for the UK machine tool industry; we also report on the latest profitability data (in this case for Q2).

Our European article covers the September industrial production data and the latest estimate for 3^rd quarter GDP that Eurostat has released this week. Both make fairly gloomy reading with output falling and the first stage of a possible recession in the Euro-zone with GDP falling in Q3 – a handful of countries are already in this situation. Finally, our international article looks at the latest data on the US market for machine tools and cutting tools (which continue on their divergent paths of decline and growth respectively) and the orders data for Japanese metal cutting machine tool manufacturers.

Finally, we had hoped to complete the October edition of the MTA Business Survey today but it now looks more likely to be Monday, so there is just time, if you have not already done so, to let us have your input via the secure online form at www.mta.org.uk/mta-business-survey-oct23 which is still open.

That concludes the Friday Brief for the week! We hope you have wonderful weekends and look forward to ‘seeing’ you again next week!

ECONOMIC NEWS – INTERNATIONAL

USMTO and CTMR, September 2023: The US Manufacturing Technology Orders (USMTO) programme tracks orders in the US market, based on the reports from participants in the survey. Machine tool orders in the first nine months of 2023 were -13.8% below the level in the same months of last year (January to September 2022). The 12-month […]

ECONOMIC NEWS – EUROPE

European Industrial Production, September 2023: Following the UK manufacturing output data which we reported last week, Eurostat has published the European figures, although they use industrial production as the headline series and don’t provide directly comparable data for the manufacturing sector in their news release. Another complication is that their data is monthly with no […]

ECONOMIC NEWS – UK

UK Trade, 3rd Quarter 2023: The final element of the quarterly GDP figures from the ONS that we reported on last Friday is trade; because of significant distortions from trade in non-monetary gold, we will use the data and trends for the trade in goods excluding precious metals in this note. For the total trade […]

CECIMO survey on Skills for Advanced Manufacturing: Database for the Future in the Present

In response to the increasing demand for skilled workforce in the emerging digital and green era, CECIMO has initiated a survey to produce a comprehensive report that will complement the study on “Transformation of Manufacturing: Embracing Digital and Green Skills. This survey aims to establish an up-to-date skills database as a valuable reference for industrial […]

Croner Update – Changes to Holiday Entitlement Laws

At Croner, we are committed to keeping you informed and up-to-date with the latest resources and information available. Over the last 7 days, we have been hard at work creating and curating content that we believe will be of great value to you and your members. Firstly, I am excited to share with you the […]

Sunak’s ministerial changes

Extensive ministerial changes announced this week see David Cameron back, with a leading role in the UK’s relations with the EU, and extensive changes at HM Treasury. Cameron’s surprise return from the wilderness as foreign secretary sitting in the House of Lords comes seven years after he resigned in the wake of the advisory referendum […]

UK Export Academy from the Department for Business and Trade (DBT)

The UK Export Academy provides free support to help your business discover your export potential, increase your knowledge and upskill you or your team’s knowledge of overseas sales. Whether you are new to exporting, or whether you are existing exporters looking for growth in specialist markets or sectors, there are masterclasses and events available to support your business. Sign […]

The 2024 Made in the UK, Sold to the World Awards

The Made in the UK, Sold to the World Awards are your opportunity to receive recognition for the exceptional growth your business has achieved by trading internationally. You can apply to any one of the following ten categories: Visit our website for more information, including eligibility to enter, and to submit your entry. Or […]

Friday Brief