Investing.com - The U.K.’s current account deficit widened unexpectedly in the second quarter of 2012, official data showed on Thursday.
In a report, the U.K.’s National Statistics Office said that the U.K. current account recorded a seasonally adjusted deficit of GBP20.8 billion in the second quarter, widening from a deficit of GBP15.4 billion in the preceding quarter, whose figure was revised from a deficit of GBP11.2 billion.
Economists had expected the current account deficit to narrow to GBP12.4 billion.
Following the release of that data, the pound was fractionally higher against the U.S. dollar, with GBP/USD easing up 0.09% to hit 1.6180.
Meanwhile, European stock markets were mildly higher. London’s FTSE 100 edged up 0.2%, the EURO STOXX 50 rose 0.25%, France’s CAC 40 added 0.4%, while Germany's DAX advanced 0.35%.
In a report, the U.K.’s National Statistics Office said that the U.K. current account recorded a seasonally adjusted deficit of GBP20.8 billion in the second quarter, widening from a deficit of GBP15.4 billion in the preceding quarter, whose figure was revised from a deficit of GBP11.2 billion.
Economists had expected the current account deficit to narrow to GBP12.4 billion.
Following the release of that data, the pound was fractionally higher against the U.S. dollar, with GBP/USD easing up 0.09% to hit 1.6180.
Meanwhile, European stock markets were mildly higher. London’s FTSE 100 edged up 0.2%, the EURO STOXX 50 rose 0.25%, France’s CAC 40 added 0.4%, while Germany's DAX advanced 0.35%.