Bulletin of Industry
U.K. industrial operation As factories hurried to complete work before the post-Brexit transition period ends on Dec. 31, they soared to their highest level in three years last month.
The IHS Markit/CIPS Manufacturing Purchasing Managers’ Index (PMI) increased from 55.6 in November to 57.5 in December, the highest level since November 2017, but it is not expected that the rise in activity will last.
“Customers, particularly from the EU, have brought forward purchases, which has temporarily boosted sales,” said IHS Markit Director Rob DObson. “It seems likely that this boost will reverse in the early months of 2021, making for a weak start to the year.”
On Dec. 24, Prime Minister Boris Johnson reached a deal with the European Union at the last minute to prevent tariffs on goods exchanged with the EU. Nevertheless, beginning Jan. 1, trade between the two economies will be burdened with substantial additional paperwork.
The survey found that since March 2019 – when there were still concerns of threats to trade with the EU – manufacturers have been stockpiling products at the fastest rate and that delivery times have been the slowest since the initial lockdown in April and May.
There were delays throughout the U.K. in December. After France closed the border after the discovery of a new, more contagious strain of the coronavirus in the United Kingdom, ports resulted in a prolonged blockade at Dover just before Christmas.
Between Dec. 4 and Dec. 18, before the French intervention, the IHS Markit survey took place.
The Scottish car dealership plans to double the turnover of used vehicles.
Due to expansion plans, the car dealership company Peter Vardy is looking to double its annual used car volume, while also parting with Vauxhall.
The firm has also restructured and invested in its SilverBullet information technology platform to improve its position as an e-commerce operator.
It said it has intentions to invest nationally in future locations. In July 2021, current Vauxhall locations will be turned into used car supermarkets.
Peter Vardy plans to double the sales of used vehicles and divest Vauxhall
Immobilization agents in the merger process
Lomond Capital, owner of Braemore and Stonehouse Scottish lettings and estate agents, is merging with Linley & Simpson, a Yorkshire company.
Private equity firm LDC is funding the deal. There will be a combined portfolio of more than 22,000 properties in the new company.
Scottish Braemore and Stonehouse lettings and estate agents combine
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