Brexit Watch - insight into the key economic drivers relating to the mechanical and electrical sectors

Please find below the link to download the latest issue of the Brexit Watch, published by EURIS - the EU Relationship & Industrial Strategy group. This document gives a valuable insight into the key economic drivers relating to the mechanical and electrical sectors.

Highlights from the Executive Summary:-

·       Sterling recovery stalled in week 21, but the average exchange rate with the US Dollar in the first 28 days of May 2017 was still 2.3% higher than April 2017 average.

·       Input prices increased by 16.6% in April 2017 compared to a year ago; a slight decrease from 17.9% recorded in March 2017.

·       Consumer price index grew by 2.7% in the 12 months to April 2017, the highest year on year growth since September 2013.

·       Index of production fell by 0.6% in March 2017 compared with February 2017 but grew by 1.4% compared to March 2016.

·       The second estimate of UK GDP growth in first quarter of 2017 was revised down to by 0.2% to £471.4 billion.

·       Business investment for all industries grew by 0.6% to £43.8 billion in 2017 Q1.

·       Exports trade value grew by 1.3% in March 2017 to £49.0 billion.

·       Construction output, at constant prices, dropped by 0.7% in March to £11.5 billion compared to February 2017, but compared to March 2016, the output grew by 2.4%.

·       Turnover for Mechanical manufacturing industry grew by 16.9% in March 2017 compared to March 2016, the highest growth since May 2011. Electronics grew by 8.9%, Electrical grew by 8.6% and Fabricated Metals grew by 3.9% in the 12 months to March 2017.