FOREX TradingCharts.com

Financial News: UK Car Production Rises For Third Month: SMMT

UK Car Production Rises For Third Month: SMMT

08/25/2022 - 04:15:00 (RTTNews)

(RTTNews) - UK car production increased for the third straight month in July, data published by the Society of Motor Manufacturers and Traders, or SMMT, showed on Thursday.

Car production grew 8.6 percent year-over-year to 58,043 units in July.

In July, factories produced 4,605 additional units, indicating that component shortages finally began to ease.

Nonetheless, overall production remained -46.4 percent below the pre-pandemic level.

Production for the domestic market grew sharply by 40.7 percent, while the export market showed a moderate rise of 2.8 percent.

During the January to July period, total UK car production plunged 16.5 percent compared with the corresponding period last year. The decline was attributable to supply chain shortages, structural changes and weak exports.

Mike Hawes, SMMT chief executive, said, "A third consecutive month of growth for UK car production is, of course, welcome and gives some hope that the supply chain issues blighting the sector may finally be starting to ease."

But other challenges remain, not least energy costs which are increasing at alarming rates, said Hawes.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2022 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Ireland Jobless Rate Remains Stable In September (06 hr(s), 28 min(s), 57 sec(s) ago)
(RTTNews) - Ireland's unemployment rate held steady in September, after rising slightly in the ...Full Story»

Brazil Industrial Production Falls As Expected (06 hr(s), 45 min(s), 57 sec(s) ago)
(RTTNews) - Brazil's industrial production declined as expected in August after rebounding in ...Full Story»

U.S. Services Index Indicates Slightly Slower Growth In September (06 hr(s), 51 min(s), 57 sec(s) ago)
(RTTNews) - The Institute for Supply Management released a report on Wednesday showing a modest sl ...Full Story»

U.S. Trade Deficit Narrows To Smallest In Over A Year In August (07 hr(s), 05 min(s), 57 sec(s) ago)
(RTTNews) - With the value of imports showing a notable decrease, the Commerce Department released ...Full Story»

Philippines Inflation Highest In 4 Years (07 hr(s), 07 min(s), 57 sec(s) ago)
(RTTNews) - The Philippines' inflation increased to the highest level in four years, mainly le ...Full Story»

U.S. Private Sector Job Growth Slightly Exceeds Estimates In September (07 hr(s), 11 min(s), 57 sec(s) ago)
(RTTNews) - Private sector employment in the U.S. increased by slightly more than expected in the ...Full Story»

Brazil Services Growth At 16-Month Low (07 hr(s), 15 min(s), 57 sec(s) ago)
(RTTNews) - Brazil's service sector activity expanded at the weakest pace in the current 16-mo ...Full Story»

UK Car Registrations Rise For Second Month: SMMT (07 hr(s), 53 min(s), 57 sec(s) ago)
(RTTNews) - UK car registrations increased for the second straight month in September, data from t ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Ireland Jobless Rate Remains Stable In September

10/05/2022 - 10:58 AM (RTTNews)
(RTTNews) - Ireland's unemployment rate held steady in September, after rising slightly in the ...Full Story>>

Brazil Industrial Production Falls As Expected

10/05/2022 - 10:41 AM (RTTNews)
(RTTNews) - Brazil's industrial production declined as expected in August after rebounding in ...Full Story>>

U.S. Services Index Indicates Slightly Slower Growth In September

10/05/2022 - 10:35 AM (RTTNews)
(RTTNews) - The Institute for Supply Management released a report on Wednesday showing a modest sl ...Full Story>>

U.S. Trade Deficit Narrows To Smallest In Over A Year In August

10/05/2022 - 10:21 AM (RTTNews)
(RTTNews) - With the value of imports showing a notable decrease, the Commerce Department released ...Full Story>>

Philippines Inflation Highest In 4 Years

10/05/2022 - 10:19 AM (RTTNews)
(RTTNews) - The Philippines' inflation increased to the highest level in four years, mainly le ...Full Story>>

Do not sell my personal information

Copyright © 2022. 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.