Investing.com - Financial Markets Worldwide

U.K. current account deficit narrows more-than-expected in Q2

Published 09/28/2010, 04:45 AM
GBP/USD
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Investing.com – The U.K.’s current account deficit narrowed more-than-expected in the second quarter, official data showed on Tuesday.

In a report, the U.K.’s National Statistics Office said the country’s current account recorded a seasonally adjusted deficit of GBP 7.4 billion in the second quarter, following a deficit of GBP 11.3 billion in the preceding quarter, whose figure was revised up from GBP 9.6 billion.

Economists had expected a deficit of GBP 9.6 billion in the second quarter.

The report said that the current account deficit was 2.0% of GDP in the second quarter, compared to 3.1% in the preceding quarter.

Following the release, the pound was down against the U.S. dollar, with GBP/USD shedding 0.04% to hit 1.5822.

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