UK ENGINE MANUFACTURING
28 November 2019 (data for October 2019)
UK engine manufacturing falls -6.2% in October, following drop in international demand.
Year to date performance -7.2% behind 2018 with orders from British plants driving the decline.
Importance of frictionless trade highlighted as more than six out of 10 UK-built engines shipped overseas.
Mike Hawes, SMMT Chief Executive, said, “Global economic uncertainty and ongoing Brexit worries are impacting UK engine production, and with output down in all but two of the last 14 months, it’s a trend that’s deeply concerning. This unease looks set to continue until we can secure an ambitious future relationship with the EU that maintains free and frictionless trade with our key export markets. This vital sector needs stability in order to ensure its future competitiveness and success.”
*Article Source http://www.smmt.co.uk