Investing.com – The U.K. current account deficit widened more-than-expected in the fourth quarter, official data showed on Tuesday.
In a report, the U.K.’s National Statistics Office said that the U.K. current account recorded a seasonally adjusted deficit of GBP10.5 billion in the fourth quarter, after recording a deficit of GBP8.7 billion in the preceding quarter, whose figure was revised from a deficit of GBP9.6 billion..
Economists had expected the current account deficit to widen to GBP10.4 billion.
According to the data, the fourth quarter balance was equivalent to -2.9% of GDP, compared to -2.4% in the previous quarter.
Following the release of that data, the pound was up against the U.S. dollar, with GBP/USD rising 0.19% to hit 1.6023.
Meanwhile, European stock markets were lower. The FTSE 100 shed 0.04%, the EURO STOXX 50 declined 0.32%, France’s CAC 40 slumped 0.2%, and Germany's DAX dipped 0.23%.
In a report, the U.K.’s National Statistics Office said that the U.K. current account recorded a seasonally adjusted deficit of GBP10.5 billion in the fourth quarter, after recording a deficit of GBP8.7 billion in the preceding quarter, whose figure was revised from a deficit of GBP9.6 billion..
Economists had expected the current account deficit to widen to GBP10.4 billion.
According to the data, the fourth quarter balance was equivalent to -2.9% of GDP, compared to -2.4% in the previous quarter.
Following the release of that data, the pound was up against the U.S. dollar, with GBP/USD rising 0.19% to hit 1.6023.
Meanwhile, European stock markets were lower. The FTSE 100 shed 0.04%, the EURO STOXX 50 declined 0.32%, France’s CAC 40 slumped 0.2%, and Germany's DAX dipped 0.23%.