MTA predicts growth in machine tool sector
October 26th 2007

The Manufacturing Technologies Association has predicted nearly 10% growth in the machine tool sector for next year. The prediction, made during its annual forecasting seminar, follows the steady growth of 29% in 2006 and 6% in 2007.

Although it has not been expanding rapidly, the manufacturing sector has seen healthy growth over the past couple of years. This development has been led by the investment goods sector which has been stimulated by the machinery and metal products markets, both of which are important users of machine tools.

Plant capacity is no longer thought to be a constraint on output and investment intentions, and spending is set to rise.

“We are confident that growth of +5.7% can be achieved in 2007, accelerating to +9.3% in 2008,” asserts MTA’s statistician, Geoff Noon.

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