Biggest slump in car production in 40 years sent Britain’s economy into reverse

The Sun | 6/11/2019 | Staff
JimmyJoe (Posted by) Level 3
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THE biggest slump in car production for more than 40 years sent Britain’s economy into reverse in April.

Shock official figures revealed economic output - or GDP – fell by 0.4 per cent. And it was fuelled by car makers bringing forward annual factory shutdowns in case there was a ‘No Deal’ Brexit on March 29.

Theresa - May - Deal - Extension - Brussels

Theresa May avoided a No Deal by signing a negotiating extension with Brussels. The GDP fall marks the second consecutive month the economy has contracted.

And the scale of the 0.4 per cent stunned City experts who had been predicting a minor 0.1 per cent drop. Car production was down 24 per cent – the worst performance since the mid-1970s.

Manufacturing - Output - Extent

And manufacturing output fell by the biggest extent since 2002.

'MARRED BY BREXIT UNCERTAINTY'

BMW - Mini - Summer - Shutdown - Jaguar

BMW Mini was one of those who brought forward its traditional summer shutdown. Jaguar Land Rover staged a week-long closure.

Experts said Britain’s economy was clearly being “dragged down” by the Brexit uncertainty.

Yael - Selfin - Economist - KPMG - UK

Yael Selfin, chief economist at KPMG UK, said: “The hangover that’s followed the UK’s original exit date is proving stronger than anticipated.

“Today’s figures signal the UK economy is likely to experience more subdued growth for the rest of the...
(Excerpt) Read more at: The Sun
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