Quarterly Review Q4 2023

Key attention points from this quarter:

  • Order intake amongst members improved by six percentage points to a balance of negative 4% from negative 10% last quarter with Export orders driving that change
  • Output Volume remained net positive at 9%, down from a net balance of 11% last quarter
  • For the coming three months, members forecast a net increase of 6% of businesses having increased orders, with output forecast for a net 15% increase in the same period
  • Optimism holds positive – just – at a balance of 4%, represented by 28% up, 48% same and 24% down

 

The data in this Review were acquired by a survey of Scottish Engineering’s members and certain other manufacturing companies.

29% 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 six percentage points to a balance of negative 4% from negative 10% last quarter with Export orders driving that change
  • Output Volume remained net positive at 9%, down from a net balance of 11% last quarter
  • For the coming three months, members forecast a net increase of 6% of businesses having increased orders, with output forecast for a net 15% increase in the same period
  • Optimism holds positive – just – at a balance of 4%, represented by 28% up, 48% same and 24% down

 

The data in this Review were acquired by a survey of Scottish Engineering’s members and certain other manufacturing companies.

29% of members responded

Companies are described as:
Small (<100 employees), Medium (100–500) and Large (>500)

Annual trends

Order intake has for the second quarter, a net decrease of -4% representing, a slight improvement on last quarter’s-10%.   Output volume has shown a very slight decline of 2 percentage points on last quarter but remains positive overall at 9% and exports have seen the most positivity this quarter with a +12% change (-11% to 1%). Staffing remains static since last quarter at 15% and capacity utilisation remains positive again this quarter at a net 2%, a slight decline from last quarter’s 6%.

 

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Annual trends

Order intake has for the second quarter, a net decrease of -4% representing, a slight improvement on last quarter’s-10%.   Output volume has shown a very slight decline of 2 percentage points on last quarter but remains positive overall at 9% and exports have seen the most positivity this quarter with a +12% change (-11% to 1%). Staffing remains static since last quarter at 15% and capacity utilisation remains positive again this quarter at a net 2%, a slight decline from last quarter’s 6%.

 

Capacity Utilisation remains positive with net +2% of companies reporting that they are at capacity, a decrease 4% compared to last quarter.

Looking at the next 3 months, forecasts remain broadly positive for most company sizes and sectors.  Larger companies are showing positivity in all areas.   Medium sized companies are reporting a reduction in order export (-20%) with small and medium size companies reporting a decline in order intake of -8% and -2% respectively.  Plant & Machinery have forecast positivity across all measures particularly in order exports, export prices, output volume and employees at +50% each.  Electrical & Electronics outlook also remains positive: employees (+60%), UK prices (+50%), export prices (+50%) and output volume (-40%).  Metal products this quarter are reporting a decline in three key areas: order intake (-67%), output volume (-67%) and export orders (-33%).

 

   Net       Up       Same       Down   

Orders

6%

31%

45%

24%

UK Orders

-3%

 24%

 49%

27%

Export Orders

-3%

18%

 61%

21%

Output Volume

15%

 33%

 49%

 18%

Annual trends

Order intake has for the second quarter, a net decrease of -4% representing, a slight improvement on last quarter’s-10%.   Output volume has shown a very slight decline of 2 percentage points on last quarter but remains positive overall at 9% and exports have seen the most positivity this quarter with a +12% change (-11% to 1%). Staffing remains static since last quarter at 15% and capacity utilisation remains positive again this quarter at a net 2%, a slight decline from last quarter’s 6%.

 

Key attention points from this quarter:

  • Order intake amongst members improved by six percentage points to a balance of negative 4% from negative 10% last quarter with Export orders driving that change
  • Output Volume remained net positive at 9%, down from a net balance of 11% last quarter
  • For the coming three months, members forecast a net increase of 6% of businesses having increased orders, with output forecast for a net 15% increase in the same period
  • Optimism holds positive – just – at a balance of 4%, represented by 28% up, 48% same and 24% down

 

The data in this Review were acquired by a survey of Scottish Engineering’s members and certain other manufacturing companies.

29% of members responded

Companies are described as:
Small (<100 employees), Medium (100–500) and Large (>500)

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