Manufacturing PMI offers ‘crumb of positive news’ amid lacklustre conditions and Brexit uncertainty December 3, 2018 The UK manufacturing sector offered “a crumb of positive news” this morning as it announced the rate of improvement for business conditions improved slightly in November, but remained relatively subdued as the inflow of new export orders fell further. This month’s IHS Markit/CIPS Purchasing Managers’ Index (PMI) rose to rose to a two-month high of [...]
Private sector growth slows amid ‘lacklustre’ conditions as Brexit uncertainty weighs on firms December 2, 2018 Private sector growth slowed in the quarter to November amid “lacklustre” conditions, with activity relatively stable compared to a rise in previous monthly figures. According to a survey from the Confederation of British Industry (CBI), the balance of firms reporting a rise in output was two per cent in the three months to November, down [...]
Jaguar Land Rover to axe 200 jobs from west Midlands plant amid stalling UK production November 29, 2018 Jaguar Land Rover (JLR) is to cut more jobs at its Solihull plant as a result of moving the production of its Discovery model out of the UK. The company, which already announced that 1,000 agency workers would be laid off in April, said today around 200 more people working at its Lode Land site [...]
Brexit uncertainty drives car manufacturing down nearly 10 per cent, SMMT warns November 29, 2018 Car manufacturing fell by 9.8 per cent in October as global market turbulence and Brexit uncertainty continue to hit the industry. Figures from the Society of Motor Manufacturers and Traders (SMMT) out today show 15,255 fewer cars year-on-year came off production lines last month, marking the fifth consecutive month of decline. The influential trade body [...]
Vauxhall cuts 241 more jobs at Ellesmere Port manufacturing plant in Cheshire November 23, 2018 Car maker Vauxhall is to slash 241 jobs at its Ellesmere Port manufacturing plant by the end of 2019, in a move it claims is “critical” to the competitiveness of the site. Owner Peugeot's (PSA) shares dipped this afternoon as Vauxhall said it planned to reduce headcount without having to utilise compulsory redundancies, instead trying to [...]
Manufacturing activity bounces back after poor October showing, but Brexit doubts remain November 20, 2018 Manufacturing activity picked up in the quarter to November, as the industry rallied after a disappointing October report, according to the latest statistics from the Confederation of British Industry (CBI). The organisation's latest monthly Industrial Trends Survey said it expected manufacturers to benefit from ongoing global economic expansion and a low sterling exchange rate. But weak growth [...]
How worried should we be about the slowdown in German manufacturing? November 19, 2018 | City Talk German industrial production contracted by 1.2% in Q3 and is behind the general slowdown being seen in eurozone manufacturing. What is causing the decline and how concerned should investors be? Kaputte Autos Taking a closer look at the breakdown of Germany’s production data reveals that most of the economy’s manufacturing sub-sectors are performing well. The [...]
UK manufacturing confidence slides to 16-month low November 12, 2018 UK manufacturing confidence fell to a 16-month low in October having fallen for a fourth consecutive month, according to a report published today by accountancy firm BDO. Manufacturing confidence fell to its lowest level since June 2017 according to BDO’s business trends report, falling 1.82 points to 106.66, while manufacturing business output slipped from 103.26 to [...]
The City helps fuel economic growth right across the country, so be wary of those who want to clip its wings October 28, 2018 One of the most pernicious elements of Labour's current economic platform is the idea that the City is entirely distinct from (and damaging to) the so-called real economy. Jeremy Corbyn and John McDonnell's stump speeches routinely contain attacks on predatory bankers, fat-cats and financial speculators. The labour leader also seems to have a personal vendetta against [...]
BMW prepares to plough billions into Chinese joint venture October 11, 2018 BMW is prepared to spend big in order to take control of Brilliance Automotive (BBA), its joint venture in China, it emerged today. The German manufacturer is set to part with €3.6bn (£3.14bn) to up its stake in the company from 50 per cent to 75 per cent, and will also invest more than €3bn to [...]