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Trade deficit narrows
The UK's trade deficit was cut sharply in June after an increase in exports, according to the Office for National Statistics.
The deficit on goods and services in June fell to £3.3bn, against £3.8bn in May.
However, analysts said that exports were unlikely to boost economic growth in the coming months
"It's hard to get too excited. The narrowing did little more than reverse May's sharp widening in the deficit. We continue to doubt that any trade boost will be big enough in the near-term to offset the effects of the severe fiscal squeeze on consumers and the domestic economy," said Vicky Redwood at Capital Economics.
Post Date: August 10th, 2010
The deficit on goods and services in June fell to £3.3bn, against £3.8bn in May.
However, analysts said that exports were unlikely to boost economic growth in the coming months
"It's hard to get too excited. The narrowing did little more than reverse May's sharp widening in the deficit. We continue to doubt that any trade boost will be big enough in the near-term to offset the effects of the severe fiscal squeeze on consumers and the domestic economy," said Vicky Redwood at Capital Economics.
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Post Date: August 10th, 2010
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