Sterling steadies after strongest quarter against the euro since 2015 April 1, 2021 The pound was little changed against the dollar on Thursday and a touch lower against the euro, but traders remained optimistic about its longer-term prospects. Sterling had its strongest quarter against the euro since 2015 in the first three months of the year, gaining around 4.8 per cent. UK manufacturing activity grew sharply in March [...]
UK PMIs: Manufacturing activity soars to decade high in March April 1, 2021 UK manufacturing activity grew sharply in March as business optimism hit a seven-year high and vaccine rollouts buoyed the industry, according to new data. The IHS Markit/CIPS UK Manufacturing Purchasing Managers’ Index rose to 58.9 per cent last month, marking the highest reading in just over a decade. The index leaped from last month’s 55.1 [...]
Honda to sell Swindon factory to developer Panattoni March 26, 2021 Honda will sell on its Swindon factory to industrial property developer Panattoni when it leaves the site in July, it was announced today. It is expected that the site will be handed over to the European firm in the spring of 2022, the carmaker said. It did not disclose the value of the deal. Following [...]
Car production tumbles again in worst February for a decade March 26, 2021 UK car production fell 14 per cent last month as the sector suffered its weakest February for over a decade. Just 105,008 units rolled off production lines last month, according to new figures released today by the Society of Motor Manufacturers and Traders (SMMT). It was the eighteenth straight month of declining car production in [...]
What’s causing the current global shortage of semiconductor chips? March 25, 2021 The modern world runs on semiconductors; everything from mobile phones to washing machines depends on these tiny microchips. But few industries are so totally dependent on these microprocessors as the automotive sector, as has been proved time and again over the last couple of months. Since the shortage was first flagged at the beginning of [...]
Manufacturing output on track for spring surge March 23, 2021 Manufacturing output hit its highest level in nearly two years in the three months to March in the clearest sign that a revival could be on the cards for the sector. Although still flat, the CBI’s monthly order book balance rose to -5 in March, the highest reading since April 2019 and up from -24 [...]
UK manufacturers in cash scramble as Covid and Brexit dents profits March 15, 2021 UK manufacturers are suffering a triple whammy of lower sales, declining profits and a “painful cash squeeze”, according to new Insider Pro research. Insider Pro has analysed the accounts of almost 1,500 small and medium-sized manufacturers, which is around a quarter of the industry’s UK workforce. Read more: Brexit: UK food manufacturers to face millions [...]
US governors urge Biden to pressure semiconductor firms on global shortage of automotive chips February 26, 2021 A bipartisan group of eight governors from U.S. automotive states urged President Joe Biden today to do more to press semiconductor firms to address a global shortage of automotive chips that has cut some vehicle production. Governors of Michigan, Indiana, Ohio, Kentucky, Kansas, South Carolina, Alabama and Missouri co-wrote a letter to Biden asking him [...]
Fewest cars produced in January since 2009 February 26, 2021 Last month saw the weakest January for car production since the financial crisis as a combination of the pandemic and global supply issues knocked the industry. Just 86,052 cars were built last month, down 27.3 per cent year on year, and the lowest number since 2009. It also marked the 17th straight month of declining [...]
UK PMIs: UK firms fare less badly than expected February 19, 2021 UK firms had a more positive February than anticipated so far, with firms eyeing growth prospects later in the year as the vaccine roll-out continues. The IHS Markit/CIPS purchasing managers index (PMI) jumped to 49.8 in February from 41.2 in January, a far swifter improvement than what was originally feared. The index indicated some stabilisation [...]