Exports steady engine manufacturing
UK engine manufacturing held steady in October with a marginal 0.1% decline over the previous year.
Meanwhile, exports drove demand with production for overseas markets up 20%, offsetting a 21.7% drop in output for the UK – the sixth consecutive month of domestic decline. Year-to-date volumes surpassed 2.3 million, with production up nearly 60,000 on the same period in 2017.
Mike Hawes, SMMT chief executive, said, ‘October continues the trend of recent months, with exports shoring up output from British engine plants as domestic demand continues to fall. However, if the sector is to carry on meeting growing global appetite for the advanced, low emission powertrains for which the UK is famous, it is vital that we maintain free and frictionless access to our biggest market, the EU.’