Trade figures get a boost from car makers
Trade figures came out much rosier than expected yesterday as Britain's exports to regions outside the EU hit a new record, thanks in part to car makers such as Jaguar Land Rover and Rolls-Royce selling more to the US, Russia and China.
The figures, released as Jaguar Land Rover announced it is expanding its Halewood plant on Merseyside to meet global demand, will also be seen as good news for the Chancellor's hopes of a "march of the makers" to rebalance the economy away from financial services. Jaguar Land Rover is set to take on 1,000 new staff at Halewood and increase shifts.
As domestic consumer demand falls, Britain is ever more dependent on exports for growth, particularly outside the crisis-bound eurozone. Although the trade gap between imports and exports still widened in January, it did so at a far slower rate than expected.
The Office for National Statistics said the goods trade deficit grew to £7.53bn from December's two-year-low of £7.18bn. Economists had been expecting a gap of £7.88bn.
- 1 'Women should not laugh in public,' says Turkey's Deputy Prime Minister in morality speech
- 2 The secret report that helps Israel hide facts
- 3 Is Ebola coming to Britain? UK health officials issue warning to doctors as outbreak fears grow
- 4 Richard Dawkins says 'date rape is bad, stranger rape is worse' on Twitter
- 5 Danish TV reporter is all business up top, all party down below
The secret report that helps Israel hide facts
A day in the life of Vladimir Putin: The dictator in his labyrinth
Woman and two children killed by mob in riots over 'blasphemous' Facebook post in Pakistan
Putin is 'thuggish, dishonest and reckless', says British ambassador to US
Boozy, ignorant, intolerant, but very polite – Britain as others see us
A new Russian revolution: The cracks are starting to appear in Putin’s Kremlin power bloc
- < Previous
- Next >
iJobs Money & Business
£350 - £400 per annum + competitive: Orgtel: Project Manager (specializing in ...
£25000 per annum + OTE £40,000: SThree: Orgtel are seeking Graduate Trainee Re...
£45000 per annum + Benefits: Ashdown Group: ** HR Business Partner - Senior H...
£28000 - £32000 per annum + Benefits: Ashdown Group: PA / Team Secretary - Mat...