Quote:UK car production plunged 45% in April after automakers brought forward their annual shutdowns to coincide with Brexit — only for the EU exit deadline to be extended. Commercial vehicle exports were down 89%. The carmakers have taken "a raft of costly and ongoing contingency measures" ahead of Brexit, including stockpiling, cost-cutting, training, and rerouting of logistics, said the Society of Motor Manufacturers and Traders. The industry's woes highlight the broader costs — and unintended consequences — of trade barriers as the US-China tariff war drags on.Brexit reduced UK car production by 45%, showcasing the costs and unintended consequences of new trade barriers | Markets Insider
Quote:Already his “no deal” talk is doing real damage. UK manufacturing shrank last month at the fastest rate since the referendum, with export orders at a three-year low. Construction figures fell their fastest for a year due to “ongoing political and economic uncertainty” as “a fragile dreariness descended on the sector”, according to the Chartered Institute of Procurement and Supply. Retail sales fell by 2.7% in May, the worst drop since records began, though consumer spending is what has kept the economy afloat. Wednesday’s service sector figures are unlikely to lift the gloom..Damaging talk of ‘no deal’ spells doom for the Tories | Polly Toynbee | Opinion | The Guardian