Investing.com – The U.K.’s goods trade deficit widened unexpectedly in September, official data showed on Wednesday.
In a report, the U.K. Office for National Statistics said the country's goods trade deficit widened to a seasonally adjusted GBP9.8 billion in September, compared to a deficit of GBP8.6 billion in August, whose figure was revised up from a deficit of GBP7.8 billion.
Economists had expected the goods trade deficit to narrow to GBP8.0 billion in September.
The report said that the total trade deficit widened to GBP3.9 billion in September, compared with a deficit of GBP2.7 billion in the preceding month. Analysts had expected the total trade deficit to narrow to GBP2.1 billion.
Export prices of total goods amounted to GBP39.62 billion and import prices of goods came in at GBP43.56 billion.
Following the release of the data, the pound held on to losses against the U.S. dollar, with GBP/USD shedding 0.44% to trade at 1.6017.
Meanwhile, European stock markets were broadly lower. The FTSE 100 slumped 0.85%, the EURO STOXX 50 fell 1.45%, France’s CAC 40 dropped 1.3%, while Germany's DAX was down 1%.
In a report, the U.K. Office for National Statistics said the country's goods trade deficit widened to a seasonally adjusted GBP9.8 billion in September, compared to a deficit of GBP8.6 billion in August, whose figure was revised up from a deficit of GBP7.8 billion.
Economists had expected the goods trade deficit to narrow to GBP8.0 billion in September.
The report said that the total trade deficit widened to GBP3.9 billion in September, compared with a deficit of GBP2.7 billion in the preceding month. Analysts had expected the total trade deficit to narrow to GBP2.1 billion.
Export prices of total goods amounted to GBP39.62 billion and import prices of goods came in at GBP43.56 billion.
Following the release of the data, the pound held on to losses against the U.S. dollar, with GBP/USD shedding 0.44% to trade at 1.6017.
Meanwhile, European stock markets were broadly lower. The FTSE 100 slumped 0.85%, the EURO STOXX 50 fell 1.45%, France’s CAC 40 dropped 1.3%, while Germany's DAX was down 1%.