ENGINEERING pay settlements continue at historically low levels.
Latest figures from the Engineering Employers' Federation show that the average settlement reported by member companies for the three months to the end of August was 2.6 per cent.
A spokesman said the number of pay freezes and pay deferments reported by EEF member companies during the same period reflected difficult trading conditions.
Mr Andrew Semple of the EEF in the North-west said: "These figures illustrate yet again the mixed signals being given to the Monetary Policy Committee on wage inflationary pressure in the UK economy and the responsible attitude being taken by pay bargainers in the engineering sector.
"Coupled with other indicators, they highlight the need for the MPC to exercise caution in making decisions on interest rates."
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