The general election result and uncertainty over the nature of the UK’s Brexit negotiations have dampened optimism over sales growth, according to Columbia Metals’ Q2 2017 survey of market conditions in the sector.
The survey also reveals that precision engineers are less positive about increases in investment and staffing levels during the next year.
“Political uncertainty is weighing on the minds of the UK’s precision engineers,” says David Stephenson, managing director of Columbia Metals. “Expectations of higher sales and investment levels have reversed after several quarters of growing optimism.
“This is driven by the recent election result, which has clouded the picture on the nature of this country’s Brexit deal.
“Precision engineers are increasingly expectant that the manufacturing sector will hold back on investment until the situation becomes clearer.”
Columbia Metals carried out its survey in June 2017 with precision engineering companies in the oil and gas, defence, aerospace and nuclear industries.
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