UK toolmaking business stable and growing

Latest GTMA survey of toolmakers, for first quarter 2004, show encouraging signs of growth with a significant majority of respondents reporting stable orncreasing business.

The results of the latest GTMA survey of toolmakers, for first quarter 2004, show encouraging signs of growth with a significant majority of respondents reporting that quotations, shipments and profitability have either remained stable or increased and that they expect these increases to continue over the next six months.

However the figures do reveal a cloud behind the silver lining, with 38% of respondents reporting lower selling prices and 42% reporting lower investment during the past quarter.

It is a significant figure as investment is key to continued competitiveness - although again the majority of respondents anticipate that both these figures will either remain stable or increase during the next six months.

Pay rates figures from the survey indicate average annual pay for a tool designer is now GBP 28,600, while for a programmer it is GBP 25,850 and a toolmaker/skilled machinist receives GBP 25,600.

This is an average increase of 6% since the same time last year.

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