In its Q2 report for 2024, ITSA members have seen orders holding steady, but with a high degree of variation in key markets.
Distribution is down 8% but perhaps not surprising given the 10% jump in Q1.
Some markets are showing significant growth – Communications +44%, Mass Transport +29%, and Test & Measurement +29%.
Value-Added sales also performed well in Q2, with +39% in Fibre-Optics, +48% in RF and an increase of +59% 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.
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