UK Data – Business Barometer Jun 28 (before 38), vehicle production +13.3%y/y

Some data points on the UK.

The Lloyds Business Barometer fell in June to 28

In addition, auto production increased for the first time in 10 months. +13.3% y/y in May, data from the Society of Motor Manufacturers and Traders (SMMT). Info via Reuters:

  • “The return to growth in UK car production in May is extremely welcome after 10 months of decline, indicating the fundamental resilience of the sector,” said SMMT chief executive Mike Hawes. “Any recovery, however, will be gradual as supply chain deliveries remain erratic, business costs volatile and geopolitical instability still very real.”
  • the total number of production was still 46.3% lower than the pre-pandemic month in 2019
  • The sector is struggling to increase production in the face of parts shortages, rising costs and disruption caused by Russia’s invasion of Ukraine.

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