Figures released today by the Manufacturing Technologies Association (MTA) show that activity in manufacturing technology sector – the advanced machinery, equipment and intellectual property that manufacturers utilise – was broadly stable. There was a slight dip in the value of orders, and an increase in the value of sales (which reflects historic orders). The level of inquires remained stable. Confidence across the quarter was slightly up although this disguises large fluctuations over the summer as confidence took a hit after the referendum before recovering to pick back up into modestly positive territory.
James Selka CEO of the MTA said “the message of this quarters figures is that activity has held up well in the face of uncertainty. But our members are being hampered by their customers’ lack of confidence. To open up the investment we need to drive growth and productivity in manufacturing, industry needs certainty about our economic future and trading relationships as quickly as possible.”
About the MTA
The MTA exists to promote the interests, and be the voice, of the manufacturing technologies sector in the UK. The Manufacturing Technologies Association is the UK’s trade association for companies in the manufacturing technology sector. MTA members design, manufacture and supply the advanced machinery, equipment and intellectual property that enable the creation of the products we rely on from day to day and that drive our economy.