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Manufacturing orders, contracts, financial reports
News Release from: Manufacturing Technologies Association
Edited by the Manufacturingtalk Editorial
Team on 02 March 2007
UK machine tools order intake grew 20%
Order intake for UK machine tools and manufacturing equipment during 2006 grew at a rate of 20% and a growth of some 4% is expected in first quarter, 2007.
The results of the Manufacturing Technologies Association Quarterly Trends Survey for the 4th quarter of 2006 showed that order intake growth continued to the end of the year at a good rate The key points of the survey, to which there were 100 respondents from across the Association, were as folows
This article was originally published on Manufacturingtalk on 13 Apr 2004 at 8.00am (UK)
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1 - The percentage balance for business confidence in the 4th quarter of 2006 fell slightly to +8%, but this change (from +10% in the 3rd quarter) is not significant.
There was a negative balance in the Machinery Importers' Section, but this was outweighed by a strong positive balance for the Equipment Suppliers.
2 - Order intake was +3.7% higher than in the 3rd quarter of the year, with all three sections reporting a quarter-on-quarter increase in business.
3 - Over the year as a whole, using the cumulative total across the four surveys, order intake grew by +20%.
4 - The respondents are also positive about the prospects for the 1st quarter of the new year, with orders expected to be +4.1% higher than in the final period of 2006; the Equipment Suppliers are the most bullish about business prospects, but the other two sections are not far behind and all anticipate order intake increasing.
Commenting on the results, MTA director general, Andrew Manly said: "This was another quarter in which a good rate of growth was reported; it rounded off an excellent year for the Manufacturing Technology sector in which rapid growth in order intake was reported throughout the year".
"The signs are that 2007 has begun in a similarly positive fashion and we look forward to another year of growth, although perhaps not at quite the pace seen in 2006.
With interest rates rising, there must inevitably be an impact on investment and we would urge the Monetary Policy Committee to examine very closely whether inflation is really the problem that they seem to believe, before imposing another rate rise on the economy that would, in our view, be unnecessary.".
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