UK car production “booming” in 2016
UK car production rose again in July, up for the 12th consecutive month according to the Society of Motor Manufacturers and Traders.
Production rose 7.6 percent on a year ago, bringing year to date production up to 12.3 percent. Performance so far this year has been the best since 2000, with the total cars produced in the UK rising to over 1,000,000 in the seven months since January.
Looking ahead, SMMT chief executive Mike Hawes highlighted the importance of Britain demonstrating “it remains competitive and open for business.”
Spanish economy strong despite uncertainty
The Spanish economy remains strong despite months of political uncertainty, with GDP growing 0.8 percent in the second quarter.
Figures from the National Statistics Institute showed consumer spending grew by 3.6 percent year-on-year, despite uncertainty created by two elections in the past six months. The country is still without a functioning government, but the economy has grown at one of the fastest rates in the Euro Zone.
Demand for menswear boosts Jimmy Choo
Jimmy Choo shares rose on Thursday after strong demand for its men’s designs pushed revenues up nearly 10 percent.
Men’s shoes represented 8 percent of global revenue for the first half of the year, with revenues across the company up 9.2 percent to £173 million. Operating profit was up 42.6 percent to £25 million.
Asia remained the company’s strongest market, with both China and Hong Kong leading growth. Geopolitical events damaged demand in Europe, but the weakness of the pound served to boost the company’s half-year figures.
Jimmy Choo (LON:CHOO) is currently trading up 1.91 percent at 120.00 (1034GMT).
25/08/2016
