PAY settlements in engineering and manufacturing have remained at 2.3 per cent for the past four months, according to the Engineering Employers Federation (EEF).
This figure is significant as January is the month in which most settlements in this sector occur.
Over the same period the number of pay freezes fell from more than one in five to one in seven. The number of companies which deferred their settlement rose from 2.5 per cent to nearly four per cent.
Andrew Semple, from the EEF in the North-west, said: "This data demonstrates that engineering and manufacturing companies are managing their controllable costs carefully. There are no wage inflationary pressures coming from this sector - something the Bank of England needs to be aware of as they review their interest rates."
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