Investing.com – The U.K.’s goods trade deficit narrowed unexpectedly in February, official data showed on Tuesday.
In a report, the U.K. Office for National Statistics said the country's goods trade deficit narrowed to a seasonally adjusted GBP6.8 billion in February, compared to a deficit of GBP7.8 billion in January, whose figure was revised from a deficit of GBP7.1 billion.
Economists had expected the goods trade deficit to widen to GBP8.1 billion in February.
The report said that the total trade deficit narrowed to GBP2.4 billion in February, compared to a deficit of GBP3.9 billion the previous month. Analysts had expected the total trade deficit to widen to GBP3.95 billion.
Following the release of that data, the pound was down against the U.S. dollar, with GBP/USD slumping 0.62% to hit 1.6244.
Meanwhile, European stock markets were down. The FTSE 100 shed 0.75%, the EURO STOXX 50 slipped 0.62%, France’s CAC 40 dropped 0.83%, while Germany's DAX was down 0.72%.
In a report, the U.K. Office for National Statistics said the country's goods trade deficit narrowed to a seasonally adjusted GBP6.8 billion in February, compared to a deficit of GBP7.8 billion in January, whose figure was revised from a deficit of GBP7.1 billion.
Economists had expected the goods trade deficit to widen to GBP8.1 billion in February.
The report said that the total trade deficit narrowed to GBP2.4 billion in February, compared to a deficit of GBP3.9 billion the previous month. Analysts had expected the total trade deficit to widen to GBP3.95 billion.
Following the release of that data, the pound was down against the U.S. dollar, with GBP/USD slumping 0.62% to hit 1.6244.
Meanwhile, European stock markets were down. The FTSE 100 shed 0.75%, the EURO STOXX 50 slipped 0.62%, France’s CAC 40 dropped 0.83%, while Germany's DAX was down 0.72%.