Engineering turnover slipped back in July, down 0.7% on June, according to figures from the Office for National Statistics.
The fall was almost entirely due to a drop in exports. Export orders also fell slightly, but home orders lifted total orders above June’s level.
Wage pressures in engineering are still subdued, the Engineering Employers’ Federation says. The average settlement for the three months to the end of August was 2.5%, the third month in succession it has continued at this historically low level. Out of 142 pay deals, 64 were between 2.01% and 3% and the remaining 44 were at or below 2%.
* The European level instruments market will grow 4.4% to be worth $707m (£442m) in 2005, according to market research firm Frost and Sullivan. The fastest growth is expected in radar level instruments, which are forecast to take 16.9% of the market in 2005, up from 9.8% last year. New markets and more competitive pricing policies are expected to contribute to expansion. At the same time, sales of float level instruments should mean the more sophisticated devices come down in price.