Precision engineers in the UK expect a surge of investment over the next 12 months, according to Columbia Metals’ Q1 2018 survey of market conditions in the sector.
Two-thirds of survey participants anticipate an increase in staffing levels, while confidence over sales growth has reached a record high for the second consecutive quarter.
“The acceleration in the global economy in the last three months has alleviated concerns over the impact of Brexit on the precision engineering sector,” says David Stephenson, Managing Director of Columbia Metals. “Manufacturers are exceptionally confident that investment in staffing, plant and machinery will be made in the year ahead. Demand is high and the industry is determined to rise to this challenge against the challenging backdrop of Brexit negotiations.”
Columbia Metals contacted precision engineering companies in April 2018 in the oil & gas, motorsport and aerospace industries.