TRENDS

Pay settlements in engineering dropped in April, figures from the Engineering Employers’ Federation show. The average rise for April was 2.6%, compared to 3.9% in March. But the April figure is far more significant because it covers 154 settlements, compared with just 28 settlements in March. The average settlement for the three months to April […]

Pay settlements in engineering dropped in April, figures from the Engineering Employers’ Federation show. The average rise for April was 2.6%, compared to 3.9% in March.

But the April figure is far more significant because it covers 154 settlements, compared with just 28 settlements in March.

The average settlement for the three months to April was 2.7%, up from 2.6% in March.

Engineering pay is now running ahead of prices, due to a fall in the rate of inflation rather than any great rise in wages. Late last year, pay was running behind inflation.

The largest group of pay settlements recorded between February and April (47%) were rises of between 2% and 3%.

Around a third of pay settlements broke the 3% barrier. Pay was frozen at 31 companies (13.9%), fewer than over the winter but still higher than at any time between April 1996 and October last year.

* UK car imports rose to 715,000 in the year to May, up from 650,000 in the same period last year. Domestic car production fell to 280,000, accounting for 28% of total car sales in the UK.

The largest beneficiary was the rest of the EU, which increased its share of the UK market from 55% to 59%.