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Goods trade deficit hits record high
The UK's goods trade deficit increased to a record high in July after imports rose sharply and exports fell, according to the Office for National Statistics.
The total trade deficit - which includes services - widened to its highest in almost five years. The deficit on goods and services rose to £4.9bn, against £3.9bn in June.
The goods deficit was £8.7bn, against £7.5bn a month earlier, the biggest deficit since 1998 when figures began.
"July's dreadful UK trade figures cast further doubt over the ability of the external sector to drive the recovery once the boost from government and consumer spending fades," said Vicky Redwood at Capital Economics.
Post Date: September 9th, 2010
The total trade deficit - which includes services - widened to its highest in almost five years. The deficit on goods and services rose to £4.9bn, against £3.9bn in June.
The goods deficit was £8.7bn, against £7.5bn a month earlier, the biggest deficit since 1998 when figures began.
"July's dreadful UK trade figures cast further doubt over the ability of the external sector to drive the recovery once the boost from government and consumer spending fades," said Vicky Redwood at Capital Economics.
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Post Date: September 9th, 2010
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