Almost half of the UK’s precision engineers expect sales to increase in the next 12 months, according to Columbia Metals’ Q4 2016 survey of market conditions in the sector.
This marks the highest level of optimism since Q3 2015, although confidence in investment expenditure for the next year remains little changed.
“The new year has heralded renewed optimism amongst the UK’s precision engineers,” says David Stephenson, managing director of Columbia Metals. “There is no doubt we are still enduring a tough operating environment and considerable uncertainty over the outcome of Brexit negotiations.
“However, the rally in the prices of oil and copper at the end of 2016 has sparked some pockets of activity that will be a welcome boost for the market.”
Columbia Metals carried out its survey in December 2016 with precision engineering companies in the oil and gas, marine, aerospace, and defence industries.
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