Engineering pay rises have fallen behind inflation and are continuing to decline, according to the Engineering Employers’ Federation Pay Bulletin published this month. The average reported settlement was 2.6% for the three months to the end of December 1998.
Pay freezes accounted for 23% of settlements, while rises of 3.01 to 4% made up nearly half the total.
Engineering turnover declined in the three months to November 1998 compared to the previous three months, but increased slightly in November itself.
Figures from the Office for National Statistics (ONS) show a 3.3% fall in home sales in the three-month period, offsetting a 0.6% rise in exports. But compared to the same period last year, total turnover was up 2.1%, while orders on hand fell 1%.
More cars were made in 1998 than in any year since the ONS Motor Vehicle Inquiry began in 1977 a total of 1,748,305.
Falling production for home sales was balanced by higher production for exports, which rose above 1 million for the first time. But commercial vehicle production fell in 1998.