Product category:
Engineering Industry Reports and Surveys
News Release from: Manufacturing Technologies Association
Edited by the Engineeringtalk Editorial
Team on 15 June 2004
Forecast delivers positive outlook
The MTA's Economic Forecast Update released last week indicated the most positive outlook for the machine tool sector in recent years, with growth for 2004 in the region of 20%.
The MTA's Economic Forecast Update, presented in conjunction with Oxford Economic Forecasting (OEF) to members last week, indicated the most positive outlook for the machine tool sector in recent years with growth for 2004 in the region of 20% Investment in the sector is recovering and the overall picture for the economy and GDP growth is improving
This article was originally published on Engineeringtalk on 1 Dec 2005 at 8.00am (UK)
Related stories
Survey confirms seasonal dip in orders
The latest MTA trends survey shows a dip in orders for the sector over the summer, but respondents expect a recovery in the final period of the year.
MTA President, Paul Maynard, commented: "Whilst we are very encouraged by this week's figures, it is essential to remember the backdrop to this growth".
"The recovery that these figures indicate comes from an extremely low base and confidence, while growing, remains fragile".
Last week's decision by the Bank of England's Monetary Policy Committee to increase interest rates by another quarter of a percent is especially disappointing because this will have a direct impact on confidence and, therefore, investment, slowing our forecast rate of growth.
Before taking the decision to raise rates any further the MTA suggests that the MPC uses the summer months to analyse the effect that today's decision has on the whole economy.
• Manufacturing Technologies Association: contact details and other news
• Email this article to a colleague
• Register for the free Engineeringtalk email newsletter
• Engineeringtalk Home Page
Search the Pro-Talk network of sites
