Product category:
Manufacturing industry news
News Release from: Manufacturing Technologies Association
Edited by the Manufacturingtalk Editorial
Team on 14 June 2004
UK machine tool output predicted to grow
20%
MTA's Economic Forecast Update, presented in conjunction with Oxford Economic Forecasting indicated machine tool sector growth in the region of 20% during 2004.
MTA's (The Manufacturing Technologies Association's) Economic Forecast Update, presented in conjunction with Oxford Economic Forecasting (OEF) to members this 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 Manufacturingtalk on 13 Apr 2004 at 8.00am (UK)
Related stories
MACH 2002 - already 95% subscribed
In the three months since the ballot for space held in February, MACH 2002 is already 95% subscribed, with 294 confirmed exhibitors having contracted space totalling 25,830
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." Today'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 Manufacturingtalk email newsletter
• Manufacturingtalk Home Page
Search the Pro-Talk network of sites
