|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |   
11th of November 2010
|    Banking  |   Insurance  |   Property  |   Mortgages  |   Economy  |   Investments  |   Credit Cards  |   Debt  |   Loans  |   Pensions  |   Companies  |  
September 9, 2010    

UK trade deficit widens in July

Bookmark and Share

by Kay Murchie
’UK

The Office for National Statistics (ONS) has today revealed the UK’s trade deficit widened in July to a record high, as imports soared and exports fell.

According to the ONS, the goods trade gap widened to £8.667 billion in July, up from £7.532 billion the previous month.

The deficit was the biggest since the series began more than 12 years ago and surprised analysts, who had expected a flat reading.

The ONS said imports rose 3.1% on the month, fuelled by an increase in imports of chemicals and oil.

Meanwhile, exports fell 0.9%.

Following the news, the pound fell more than 0.1% against the US dollar to $1.5386.

The news comes as the Bank of England is today expected to keep interest rates at the record low of 0.5%.

Discuss this in the Finance Markets forums

Story link: UK trade deficit widens in July



Financial Services:





Related financial stories to: UK trade deficit widens in July:
Previous: «
Next: »

Visited 512 times, 1 so far today

No Comments »

No comments yet.

RSS feed for comments on this post.

Leave a comment

Tags: , , , , , , , ,