Survey Expectations at an 18-month high
UK – Despite the fact that Prime Minister Theresa May triggered Article 50 on 29 March, 2017, expectations of increased investement in the UK's precision engineering industry are at an 18-month high.
According to the Columbia Metals' Q1 2017 survey of market conditions in the sector, precision engineers are increasingly optimistic over an increase in sales during the next year.
“A gradual return of confidence has characterised the precision engineering industry since the start of 2017,” comments David Stephenson, Managing Director of Columbia Metals.“ It is encouraging to see rising expectations of higher sales and investment in growth this year.
At the same time, now that Article 50 has been triggered precision engineers have grave concerns over the eventual effect of the UK’s departure from the EU. No terms have been negotiated yet but there is a real worry our departure will hinder our ability to export as competitively as we have done in the past.”
Columbia Metals’ survey shows that twice as many respondents expect sales to increase in the next 12 months as those that anticipate a decline. Rising investment levels and headcount are forecast by the highest proportion of precision engineers since Columbia Metals began its market surveys in Q3 2015.
Columbia Metals is a leading stockholder of copper and nickel alloys, stainless steel and titanium, supplying precision manufacturers in a wide range of industries. The company stocks almost 100 alloy grades in round bar, hexagon, sheet, plate, tube and square and offers immediate delivery worldwide from its three warehouses in the UK