FOREX TradingCharts.com

Financial News: UK Car Production Declines As Factories Struggle To

UK Car Production Declines As Factories Struggle To Ramp Up Output: SMMT

08/27/2020 - 04:50:00 (RTTNews)

(RTTNews) - UK car production logged a double-digit decline in July as factories struggled to ramp up output amid slow recovery in global demand, the Society of Motor Manufacturers and Traders reported Thursday.

Car production fell 20.8 percent year-on-year to 85,696 units in July. Production for domestic market decreased 37.1 percent and that for foreign markets declined 16.8 percent.

The lobby said the factories raised production, as global lockdown measures to contain the coronavirus eased and nearly all factories reopened, however, social distancing measures and ongoing economic uncertainty still stifled output.

In the year to date period, the impact of the pandemic on key markets, including the UK, means that overall production remained down -39.7 percent, representing an annual loss of 307,707 cars.

Mike Hawes, SMMT chief executive said the outlook remains deeply uncertain. "With the sector now battling economic recession as well as a global pandemic, it has neither the time nor capacity to deal with the further shock of a 'no deal' Brexit," Hawes added.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


U.S. Leading Economic Index Suggests Rebound May Be Losing Stream (11 hr(s), 43 min(s), 02 sec(s) ago)
(RTTNews) - A report released by the Conference Board showed a continued increase by its reading o ...Full Story»

U.S. Consumer Sentiment Improves Much More Than Expected In September (11 hr(s), 56 min(s), 02 sec(s) ago)
(RTTNews) - After reporting an unexpected increase in U.S. consumer sentiment in the previous mont ...Full Story»

Italy Current Account Surplus Rises For First Time Since April (12 hr(s), 25 min(s), 02 sec(s) ago)
(RTTNews) - Italy's current account surplus increased for the first time in four months in Jul ...Full Story»

Croatia Jobless Rate Steady At 9% In August (12 hr(s), 56 min(s), 02 sec(s) ago)
(RTTNews) - Croatia's unemployment rate remained unchanged in August after easing in the previ ...Full Story»

Poland's Industrial Output Rises Less Than Expected (13 hr(s), 46 min(s), 02 sec(s) ago)
(RTTNews) - Poland's industrial production grew less than expected in August, data from Statis ...Full Story»

Russia's Central Bank Keeps Rate On Hold (15 hr(s), 09 min(s), 02 sec(s) ago)
(RTTNews) - Russia's central bank left its key interest rate unchanged at a record low as wide ...Full Story»

Italy's Industrial Orders Rise In July (16 hr(s), 21 min(s), 02 sec(s) ago)
(RTTNews) - Italy's industrial orders and turnover increased for the third consecutive month i ...Full Story»

Eurozone Current Account Surplus Falls In July (16 hr(s), 35 min(s), 02 sec(s) ago)
(RTTNews) - The euro area current account surplus declined in July due to a fall in primary income ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

U.S. Leading Economic Index Suggests Rebound May Be Losing Stream

09/18/2020 - 10:27 AM (RTTNews)
(RTTNews) - A report released by the Conference Board showed a continued increase by its reading o ...Full Story>>

U.S. Consumer Sentiment Improves Much More Than Expected In September

09/18/2020 - 10:14 AM (RTTNews)
(RTTNews) - After reporting an unexpected increase in U.S. consumer sentiment in the previous mont ...Full Story>>

Italy Current Account Surplus Rises For First Time Since April

09/18/2020 - 09:45 AM (RTTNews)
(RTTNews) - Italy's current account surplus increased for the first time in four months in Jul ...Full Story>>

Croatia Jobless Rate Steady At 9% In August

09/18/2020 - 09:14 AM (RTTNews)
(RTTNews) - Croatia's unemployment rate remained unchanged in August after easing in the previ ...Full Story>>

Poland's Industrial Output Rises Less Than Expected

09/18/2020 - 08:24 AM (RTTNews)
(RTTNews) - Poland's industrial production grew less than expected in August, data from Statis ...Full Story>>

Do not sell my personal information

Copyright © 2020. 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.