Economic news

UK car production rises in October

UK car output increased by an annual 3.5 percent in October as a rising demand from overseas offset a drop in production for domestic consumers, the Society of Motor Manufacturers and Traders (SMMT) reported.

UK factories made 157,056 vehicles last month, with exports surging 5 percent as internal demand slumped 2.9 percent.

Last year, Britain's output hit a 17-year peak of 1.72 million cars and had been predicted to increase firmly again this year on track to touch an all-time record of 1.92 million vehicles by the end of the decade.

But on Thursday, the SMMT said production would now only slightly climb to 1.73 million this year.

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