UK connector orders remain steady
Image courtesy ITSA
Billings were down 3% over Q1, confirming a flat year so far.
Some market sectors showing significant growth - Communications +44%, Mass Transport +29% and Test & Measurement +29%
The Military/Aero market - which is significant to ITSA members - took a hit and was down 18%. This was reported as due to programme slippage and political uncertainty.
Value-added income performed well in Q2 for some product segments, with an increase of 39% in Fibre-Optics, RF up 48% and a 59% increase in Hybrid products.
Although ITSA continues to project only low minimal growth over the full-year, this view may clarify in the second-half, now that we have a new Labour government.
According to the latest Make UK Manufacturing Outlook Survey, 69% of companies regard the delivery of an industrial strategy as the top priority.
Download a full copy of the ITSA Report here: https://itsa.org.uk/wp-content/uploads/2024/08/ITSA-Report-Q2-2024.pdf
