Uk economy "sluggish" as manufacturing output down and trade deficit widens

[_V_]

Our exports up, meanwhile German exports slide.

https://www.ft.com/content/cd17f96c-...1-a13271d1ee9c

German exports fell in June, in the biggest drop for almost two years, stirring debate about whether the eurozone’s recovery could be hindered by the region’s increasingly strong currency.

But hey, we are doing sooooooooooo badly due to Brexit.

[_V_]

Oh dear exports up 6% but the pound is down 13% which means UK exports are shrinking rapidly.

Well that's it then. No point continuing, call off the Brexit, beg Juncker for forgiveness and back to the EU gravy train.

[BlasterBates]

UK exports suffer biggest drop since Brexit vote, new ONS figures show | The Independent

since last June’s Brexit vote, goods export volumes, excluding erratic items such as non-monetary gold and aircraft, are up 6 per cent. But over that period import volumes are also up 6.3 per cent, suggesting no contribution to GDP growth from net goods trade.

“This [data] is particularly concerning when you consider the backdrop of a 13 per cent post-Brexit fall in the pound"

Oh dear exports up 6% but the pound is down 13% which means UK exports are shrinking rapidly.

[jamesbrown]

Crush the saboteur!

+1

[northernladyuk]

Honestly do you know anything about anything?
PCP are included in car sales (80% of car sales in the UK are through some form of finance, 60% through PCP)
And we are talking about car production in the UK, for export, falling. Althouh sales have fallen too

I do hope it's a hard Brexit. Should be educational for some. And hard lessons tend to stick better

The lesson they will learn it that it just goes to prove how evil the EU is.

[sasguru]

Who'd buy a new car these days?

Battery tech is still in it's infancy with no infrastructure in place, there's an all out war on diesels, and if you do get one you'll be landed with repair/servicing costs into the hundreds and thousands because of all the complexity not keeping up with reliability.

The dip in car sales will be to do with more people leasing.

Honestly do you know anything about anything?
PCP are included in car sales (80% of car sales in the UK are through some form of finance, 60% through PCP)
And we are talking about car production in the UK, for export, falling. Althouh sales have fallen too

I do hope it's a hard Brexit. Should be educational for some. And hard lessons tend to stick better

[sal]

Nothing to worry about, when we stop buying German cars, the trade deficit will improve.

[Paddy]

https://www.bloomberg.com/news/artic...uggish-quarter

Doesn't look like the fall in the pound is doing much for exports

There is also a lack of confidence in Sterling as it seems the government is willing to let the pound drop to £1 = 0.85e come Brexit 2019. The this will have the opposite effect of boosting exports because some UK manufactures could go bust because of the cost of materials and component supplies.

[rl4engc]

Vehicles is one of the strengths of UK manufacturing.

Who'd buy a new car these days?

Battery tech is still in it's infancy with no infrastructure in place, there's an all out war on diesels, and if you do get one you'll be landed with repair/servicing costs into the hundreds and thousands because of all the complexity not keeping up with reliability.

The dip in car sales will be to do with more people leasing.

[BlasterBates]

Very bad news

production of vehicles plunged 6.7 percent,

Vehicles is one of the strengths of UK manufacturing.

[northernladyuk]

https://www.bloomberg.com/news/artic...uggish-quarter

Doesn't look like the fall in the pound is doing much for exports

Crush the saboteur!

[sasguru]

https://www.bloomberg.com/news/artic...uggish-quarter

Doesn't look like the fall in the pound is doing much for exports