Friday Brief 20/05/2024 (W21)

Good afternoon and welcome to this week’s Friday Brief!

We start this week with news that the MTA are looking for a representative from its membership to sit on the BSI Electrotechnical Standardization Strategic Advisory Council (ESSAC) on behalf of electrotechnical industries. You can find out more about the committee below and contact Sami Ortiz for further details.

The Customs Declaration Service (CDS) is the UK government’s new electronic system for handling customs declaration processes. From 4 June 2024, HM Revenue & Customs (HMRC) will not be able to accept the single administrative document (SAD) form that is currently submitted on CHIEF. After this date, an electronic export declaration will need to be submitted on CDS. Find out how you can subscribe for the Customs Declaration Service below.

If you’re heading to EPHJ in Switzerland this year you’ll be visiting a sold out show. Running from 11-14th June the event will be Switzerland’s biggest industrial high-precision expertise in the watchmaking, jewellery, microtechnology and medtech industries.

We have economic news from around the world this week. Our UK article covers the results of the latest CBI Industrial Trends Survey which is showing signs of a recovery in manufacturing output but without much improvement in orders and with patchy detail across the various industries. We also take a look at the latest productivity data for the UK economy which suggests that the manufacturing sector is leading the way.

The International article starts wit the flash PMI data for the manufacturing sector where there is also good news with the UK moving back into positive territory and giving another indication that we may be at a turning point of the cycle. This article also has the latest data on orders in the US markets for machine tools and cutting tools, as well as similar data for Japanese manufacturers of metal cutting machine tools.

Finally, as a follow-up to our Spring update event last week, we have now added the notes to the presentation given by Andy Goodwin from Oxford Economics. You can download the updated version of his presentation, along with the other presentation and all the latest forecast documents from the Members Only Area of the MTA website at https://www.mta.org.uk/members-area/market-intelligence/ – you will need your login and password (please contact [email protected] if you are having any difficulties).

That concludes the Friday Brief for this week! We hope you all have a wonderful bank holiday weekend and we look forward to bringing you more stories next week!

Invitation for MTA to have representation on BSI Committee L/1: Electrotechnical Technical Policy Committee

L/1 is a BSI Committee which provides technical advice to BSI management and to the BSI Electrotechnical Standardization Strategic Advisory Council (ESSAC) on behalf of electrotechnical industries. It also gives input to the IEC Standardisation Management Board [SMB] and the CENELEC Technical Board [CLC BT] and acts as a co-ordination committee for all BSI electrotechnical […]

Customs Declaration Service (CDS)

Customs Declaration Service (CDS) is the UK government’s new electronic system for handling customs declaration processes. All export declarations are due to move from the Customs Handling of Import and Export Freight (CHIEF) system to the new CDS by 4 June 2024. From 4 June 2024, HM Revenue & Customs (HMRC) will not be able to accept […]

EPHJ 2024 is sold out!

2024 will mark the 22nd edition of EPHJ, Switzerland’s biggest international trade show. This year’s event, set to run from 11 to 14 June, will bring together more than 750 exhibitors in Geneva to showcase the know-how and industrial high-precision expertise in the watchmaking, jewellery, microtechnology and medtech industries. Geneva, 15 May 2024 – In […]

ECONOMIC NEWS – UK

CBI Industrial Trends Survey, May* 2024: The latest edition of the CBI Industrial Trends Survey (ITS) – dated May* – showed the first increase in manufacturing output volumes in 18 months, although there was an interesting contrast with order books which were at their weakest since last November. While output was positive overall, it only […]

ECONOMIC NEWS – INTERNATIONAL

Flash Purchasing Managers Index, May 2024: The flash Purchasing Managers’ Index (PMI) for the UK manufacturing sector jumped into positive territory with the reading of 51.3 being the highest since July 2022. This was broadly based with both output and new orders indicating growth, although the latter was mainly from the home market with export […]

Friday Brief