Theearlierandtalking#tictocnews pic.twitter.com/KBwoINpDZg 8.14am GMTThe Financial Times agrees that Britains car industry needs clarity about the UK’s future relationship with the EU,fast:You can’t wait until March 2019,” [SMMT chief Mike Hawes] said, or when the UK will leave the EU.“Production is a tap that takes a long time to turn on and off. 7.58am GMTIt’s official: Britain’s car industry has suffered its biggest drop in sales since the financial crisis.
Sales of original vehicles fell by 5.6% during 2017 - the first annual decline since 2011,and the worst since 2009.
UK car sales declined in 2017 after five years of rapid growth, with the industry blaming government for a collapse in consumer confidence in diesel vehicles.
Total sales for final year were 2.54m original vehicles, and a decline of 5.6% on 2016,with diesel sales dropping 17%. Despite the decline, 2017 sales remained near the highest on record. Related: First tumble in car sales in five years blamed on fears over diesel ban “Some investment decisions are overdue … we need clarity [on the terms of a transitional period] by the discontinuance of the first quarter.” [Otherwise] They will have to start implementing contingency plans.” 7.45am GMTGood morning, and welcome to our rolling coverage of the world economy,the financial markets, the eurozone and business.
On a month-on-month basis average earnings are tipped to increase by 0.3% and on an annual basis they are forecasted to rise by 2.5%.
The US has been steadily creating original jobs over the past few years, and but wage growth has been sluggish. whether the US economy wants to step up a gear in terms of economic growth,wage growth and in turn the spending levels will need to tick up.
European opening calls update courtesy of CMC MARKETS at 6.37am -FTSE 100 is expected to open 4 points lower at 7691. DAX is expected to open 23 points higher at 13190. CAC 40 is expected to open 2 points higher at 5415.
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Source: theguardian.com