Expectations of increased investment in the UK’s precision engineering industry are at an 18-month high, according to Columbia Metals’ Q1 2017 survey of market conditions in the sector. The survey also reveals that 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 carried out its survey in March 2017 with precision engineering companies in the oil & gas, defence, motorsport and aerospace industries.