U.K. car manufacturing rose in June for the second consecutive month, but is still 19% down for the first six months as a whole, an industry body said Thursday.
The Society of Motor Manufacturers and Traders said that a total of 72,946 cars drove off the production lines in June compared with 69,097 in June 2021.
U.K. Ad Market Reached GBP8.6 Billion in First Quarter
The U.K.'s advertising market grew faster than previously anticipated in the first quarter and spending for 2022 as a whole is now expected to set a new high of 35.4 billion pounds ($42.64 billion), according to the latest Advertising Association/WARC expenditure report released Thursday.
AA/WARC figures show U.K. ad spend rose 28.3% during the first three months of 2022 to GBP8.6 billion, with growth across all media. The first three months of 2022 outperformed expectations by 7.7 percentage points as media recovered when compared with the first quarter of 2021, which was hit by Covid-19 lockdown measures and the wider impact of the pandemic on activity.
Facebook Parent Meta Platforms Reports First Ever Revenue Drop
Facebook parent Meta Platforms Inc. posted its first decline in revenue and issued a muted outlook on digital advertising as it contends with growing competition from rival TikTok.
The company reported quarterly revenue of $28.8 billion, down almost 1% from a year earlier and slightly below the $28.9 billion Wall Street was expecting. It marks the first time that the company has posted a quarterly drop in revenue from the year earlier.
Write to paul.larkins@dowjones.com
Expected Major Events for Thursday
04:30/NED: Jul Producer confidence survey
06:00/DEN: Jun Retail Sales Index
06:00/SWE: Jun Retail sales
06:00/DEN: Jul Business tendency survey
06:00/SWE: 2Q Flash GDP
06:00/NOR: May Labour force survey SA, incl unemployment
06:00/NOR: 2Q Labour force survey
06:45/FRA: Jun PPI
07:00/HUN: Jun Employment & unemployment
07:00/SPN: 2Q Economically Active Population Survey
07:00/SWE: Jul Consumer Tendency Survey
07:00/SWE: Jul Quarterly Business Tendency Survey
07:00/SVK: Jul Business tendency survey
07:00/SVK: Jul Economic sentiment indicator
07:00/SPN: Jun Retail Sales
08:00/ITA: May Industrial turnover & orders
08:00/GER: Jul Bavaria CPI
08:00/GER: Jul Hesse CPI
08:00/GER: Jul Baden-Wuerttemberg CPI
08:00/GER: Jul Brandenburg CPI
08:30/GER: Jul North Rhine Westphalia CPI
09:00/ITA: Jun Foreign Trade non-EU
09:00/CYP: May Industrial Production Index
09:00/EU: Jul Business & Consumer Surveys - Business Climate Indicator & Economic Sentiment Indicator
09:00/GER: Jul Saxony CPI
09:00/GRE: May Labour Force Survey
09:30/BEL: Jul CPI
10:00/IRL: Jun Retail Sales Index
12:00/GER: Jul Provisional CPI
13:00/BEL: 2Q Preliminary GDP
23:01/UK: 2Q BRC-LDC Vacancy Monitor
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This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires
07-28-22 0034ET