Quarterly Review Q1 2024

Key attention points from this quarter:
  • Order intake amongst members improved by twelve percentage points to a balance of positive 8% from negative 4% last quarter, with exports once again leading the way
  • Output volume remained net positive at 4%, softened from a net balance of 9% last quarter
  • For the coming three months, members forecast a net increase of 35% of businesses having increased orders, with output forecast for a net 32% increase in the same period
  • Optimism steps more positive than last quarter – at a balance of 19% positive, with large companies and plant and machinery with the highest confidence of positive 50% and 42% respectively
The data in this Review were acquired by a survey of Scottish Engineering’s members and certain other manufacturing companies. 35% of members responded Companies are described as: Small (<100 employees), Medium (100–500) and Large (>500)

Key attention points from this quarter:
  • Order intake amongst members improved by twelve percentage points to a balance of positive 8% from negative 4% last quarter, with exports once again leading the way
  • Output volume remained net positive at 4%, softened from a net balance of 9% last quarter
  • For the coming three months, members forecast a net increase of 35% of businesses having increased orders, with output forecast for a net 32% increase in the same period
  • Optimism steps more positive than last quarter – at a balance of 19% positive, with large companies and plant and machinery with the highest confidence of positive 50% and 42% respectively
The data in this Review were acquired by a survey of Scottish Engineering’s members and certain other manufacturing companies. 35% of members responded Companies are described as: Small (<100 employees), Medium (100–500) and Large (>500)

Annual trends

After two quarters negative, order intake recorded an increase of 12% to +8%, whilst output volume declined 5% on last quarter but remains positive overall at +4%. Exports have seen another positive quarter, a 5% change from +1% to +6%. Staffing has seen the largest decline this quarter falling 9 percentage points to +6%, and capacity utilisation records another positive quarter with a net of +8%, an increase of 6% on last quarter.

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Annual trends

After two quarters negative, order intake recorded an increase of 12% to +8%, whilst output volume declined 5% on last quarter but remains positive overall at +4%. Exports have seen another positive quarter, a 5% change from +1% to +6%. Staffing has seen the largest decline this quarter falling 9 percentage points to +6%, and capacity utilisation records another positive quarter with a net of +8%, an increase of 6% on last quarter.

Capacity Utilisation remains positive with net +8% of companies reporting that they are at capacity, an increase of 6% compared to last quarter.

Looking at the next 3 months, forecasts reflect a more positive outlook with all sizes of companies and sectors avoiding negative outlooks. All sizes of companies report positivity overall in all areas with larger companies reporting the most positivity in order intake, order exports and output volume, all at 100%. Precision Engineering, Manufacturing and Plant & Machinery forecast positivity in all areas (order intake, order exports, prices UK, prices export, output volume and employees). Fabricators are reporting a decline in orders export (-20%) and prices UK (-6%) but positive in all other areas. Metal Products forecasts have seen the most improvement on last quarter with prices UK at +50% (0%), prices exports at +50% (0%) and employees +25% (0%). Forecasts for orders records an improvement of +29% (6% to 35%), UK order +34% (-3% to 31%), export orders +24% (-3% to 21%) and output volume +26% (15% to 41%).
   Net       Up       Same       Down   

Orders

35%

 47%

41%

12%

UK Orders

 31%

 42%

 47%

 11%

Export Orders

 21%

 32%

 57%

11%

Output Volume

41%

 50%

 42%

 9%

Annual trends

After two quarters negative, order intake recorded an increase of 12% to +8%, whilst output volume declined 5% on last quarter but remains positive overall at +4%. Exports have seen another positive quarter, a 5% change from +1% to +6%. Staffing has seen the largest decline this quarter falling 9 percentage points to +6%, and capacity utilisation records another positive quarter with a net of +8%, an increase of 6% on last quarter.

Key attention points from this quarter:
  • Order intake amongst members improved by twelve percentage points to a balance of positive 8% from negative 4% last quarter, with exports once again leading the way
  • Output volume remained net positive at 4%, softened from a net balance of 9% last quarter
  • For the coming three months, members forecast a net increase of 35% of businesses having increased orders, with output forecast for a net 32% increase in the same period
  • Optimism steps more positive than last quarter – at a balance of 19% positive, with large companies and plant and machinery with the highest confidence of positive 50% and 42% respectively
The data in this Review were acquired by a survey of Scottish Engineering’s members and certain other manufacturing companies. 35% of members responded Companies are described as: Small (<100 employees), Medium (100–500) and Large (>500)

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