Investing.com - The U.K.’s goods trade deficit narrowed less-than-expected in August, official data showed on Wednesday.
In a report, the U.K. Office for National Statistics said the country's goods trade deficit narrowed to a seasonally adjusted GBP9.63 billion in August from a deficit of GBP9.94 billion in July.
Economists had expected the goods trade deficit to narrow to GBP9 billion in August.
Seasonally adjusted, the U.K.’s deficit on trade in goods and services was estimated to have been GBP3.3 billion in August, compared with a deficit of GBP3.4 billion in July.
U.K. trade data shows the extent of import and export activity, a key contributor to the overall economic growth of the U.K.
Following the release of the data, the pound added to losses against the U.S. dollar, with GBP/USD shedding 0.69% to trade at 1.5974.
Meanwhile, European stock markets remained lower. London’s FTSE 100 dipped 0.25%, the EURO STOXX 50 fell 0.1%, France’s CAC 40 inched down 0.1%, while Germany's DAX slumped 0.1%.
In a report, the U.K. Office for National Statistics said the country's goods trade deficit narrowed to a seasonally adjusted GBP9.63 billion in August from a deficit of GBP9.94 billion in July.
Economists had expected the goods trade deficit to narrow to GBP9 billion in August.
Seasonally adjusted, the U.K.’s deficit on trade in goods and services was estimated to have been GBP3.3 billion in August, compared with a deficit of GBP3.4 billion in July.
U.K. trade data shows the extent of import and export activity, a key contributor to the overall economic growth of the U.K.
Following the release of the data, the pound added to losses against the U.S. dollar, with GBP/USD shedding 0.69% to trade at 1.5974.
Meanwhile, European stock markets remained lower. London’s FTSE 100 dipped 0.25%, the EURO STOXX 50 fell 0.1%, France’s CAC 40 inched down 0.1%, while Germany's DAX slumped 0.1%.