FOREX TradingCharts.com

Financial News: UK Car Production Rises For First Time In

UK Car Production Rises For First Time In 15 Months

09/25/2019 - 23:33:00 (RTTNews)

(RTTNews) - UK car production increased for the first time in 15 months in August, data released by the Society of Motor Manufacturers and Traders showed on Thursday.

Car production grew 3.3 percent on a yearly basis in August as factories kept production lines rolling throughout the month after they brought forward planned summer shutdowns to April in preparation for the original Brexit deadline.

The increase in August couldn't offset the substantial losses posted in April. Only 2,903 more cars were produced in August 2019 than in the same month last year, the agency noted.

Mike Hawes, SMMT chief executive, said, "While growth is always welcome, today's figures mask the underlying downward trend and strengthening global headwinds facing the sector, including international trade tensions, massive technological upheaval and, in the UK, political and economic uncertainty."

Production for the domestic market advanced 15.2 percent in August. Meanwhile, output for exports grew marginally by 0.6 percent.

This disguised ongoing weakness in major global markets with production for China down 43.8 percent, exports to the US falling 9.1 percent and those to the EU dropped 13.7 percent in the first eight months.

The year-to-date production plunged 17 percent. Output failed to reach one million units by August for the first time in five years, the lobby noted.

The SMMT repeatedly called for Brexit deal to maintain competitiveness and safeguard jobs.

SMMT Chief Executive Hawes said the mere threat of no deal has undermined investment and the potential imposition of tariffs, border delays and additional administrative burdens would damage competitiveness.

"We now need parliament and government to redouble efforts to get a deal that maintains free and frictionless trade," said Hawes.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2019 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Singapore Exports Continue To Fall In September (08 min(s), 07 sec(s) ago)
(RTTNews) - Singapore's non-oil domestic exports continued to decline in September albeit at a ...Full Story»

Australia Jobless Rate Eases To 5.2% In September (02 hr(s), 46 min(s), 07 sec(s) ago)
(RTTNews) - The unemployment rate in Australia came in at a seasonally adjusted 5.2 percent in Sep ...Full Story»

Australia Unemployment Data Due On Thursday (05 hr(s), 31 min(s), 07 sec(s) ago)
(RTTNews) - Australia will on Thursday release jobless numbers for September, highlighting a modes ...Full Story»

Fed Says U.S. Economy Expanding At Slight To Modest Pace (09 hr(s), 05 min(s), 07 sec(s) ago)
(RTTNews) - Two weeks ahead of the Federal Reserve's next monetary policy meeting, the central ...Full Story»

U.S. Business Inventories Virtually Unchanged In August (13 hr(s), 02 min(s), 07 sec(s) ago)
(RTTNews) - The Commerce Department released a report on Wednesday showing little change in U.S. b ...Full Story»

U.S. Homebuilder Confidence Unexpectedly Shows Continued Improvement (13 hr(s), 04 min(s), 07 sec(s) ago)
(RTTNews) - Homebuilder confidence in the U.S. unexpectedly climbed to its highest level in well o ...Full Story»

Hong Kong Banks Agree To Adopt Measures To Support Small Enterprises: HKMA (13 hr(s), 19 min(s), 07 sec(s) ago)
(RTTNews) - Hong Kong's banks agreed to take measures to support small and medium enterprises, ...Full Story»

U.S. Retail Sales Unexpectedly Decrease Amid Pullback In Auto Sales (14 hr(s), 19 min(s), 07 sec(s) ago)
(RTTNews) - Retail sales in the U.S. unexpectedly decreased in the month of September, according t ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Singapore Exports Continue To Fall In September

10/16/2019 - 23:23 PM (RTTNews)
(RTTNews) - Singapore's non-oil domestic exports continued to decline in September albeit at a ...Full Story>>

Australia Jobless Rate Eases To 5.2% In September

10/16/2019 - 20:45 PM (RTTNews)
(RTTNews) - The unemployment rate in Australia came in at a seasonally adjusted 5.2 percent in Sep ...Full Story>>

Australia Unemployment Data Due On Thursday

10/16/2019 - 18:00 PM (RTTNews)
(RTTNews) - Australia will on Thursday release jobless numbers for September, highlighting a modes ...Full Story>>

Fed Says U.S. Economy Expanding At Slight To Modest Pace

10/16/2019 - 14:26 PM (RTTNews)
(RTTNews) - Two weeks ahead of the Federal Reserve's next monetary policy meeting, the central ...Full Story>>

U.S. Business Inventories Virtually Unchanged In August

10/16/2019 - 10:29 AM (RTTNews)
(RTTNews) - The Commerce Department released a report on Wednesday showing little change in U.S. b ...Full Story>>
Copyright © 2019. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.