ENGINEERING SECTOR FINDS THE
GOING GETS TOUGH
The credit crunch has finally hit the
manufacturing engineering industry according to
the latest survey by Scottish Engineering, the
support group for the sector.
The latest Quarterly Review reports that order
intake has fallen for the first time in almost
five years.
Another important issue within the survey points
out that while prices have risen in both UK and
export markets they have not matched the rises in
fuel, energy or raw materials so margins have
tumbled.
As was to be expected the oil & gas sector
continues to plough a strong furrow, but machine
shops and mechanical engineering have been hit
hard.
Dr Peter Hughes, Chief Executive of Scottish
Engineering said: “The one area that goes against
the negative trend is large companies which are
still reporting a positive order intake. The
majority of companies are also reporting ongoing
positive results in terms of output volume, but
these are based on the positive intake figures for
previous months.”
September 2008
For
more information see the article in the News Page
or the Quarterly Review PDF
|
-
