Post-Brexit fears have receded for UK precision engineers, according to Columbia Metals’ Q3 2016 survey of market conditions in the sector. A greater proportion of respondents expects sales turnover to increase in the next 12 months alongside a strengthening in the competitive environment and levels of investment.
“Market conditions for precision engineers have not been directly impacted by the UK’s decision to leave the EU,” says David Stephenson, Managing Director of Columbia Metals. “After a period of initial uncertainty following the vote, the initial predictions of doom and gloom appear not to have been realised. Nonetheless, the overall backdrop for the sector is still challenging and precision engineers continue to be particularly affected by the low levels of activity in the oil & gas sector.”
Columbia Metals carried out its survey in September 2016 with precision engineering companies in the oil & gas, aerospace and defence industries.