Investing.com - The U.K.’s goods trade deficit widened more-than-expected in October, official data showed on Thursday.
In a report, the U.K. Office for National Statistics said the country's goods trade deficit widened to a seasonally adjusted GBP9.5 billion in October from a deficit of GBP8.4 billion in September.
Economists had expected the goods trade deficit to widen to GBP8.8 billion in October.
Seasonally adjusted, the U.K.’s deficit on trade in goods and services was estimated to have been GBP3.6 billion in October, compared with a deficit of GBP2.5 billion in September.
Excluding oil and erratic items, the deficit on trade in goods was GBP22.9 billion in the three months to October. This was GBP0.5 billion higher than in the preceding three months.
Following the release of the data, the pound remained modestly higher against the U.S. dollar, with GBP/USD adding 0.06% to trade at 1.6105.
Meanwhile, European stock markets were broadly higher. London’s FTSE 100 rose 0.4%, the EURO STOXX 50 gained 0.85%, France’s CAC 40 edged 0.6% higher, while Germany's DAX rallied 1.1%.
In a report, the U.K. Office for National Statistics said the country's goods trade deficit widened to a seasonally adjusted GBP9.5 billion in October from a deficit of GBP8.4 billion in September.
Economists had expected the goods trade deficit to widen to GBP8.8 billion in October.
Seasonally adjusted, the U.K.’s deficit on trade in goods and services was estimated to have been GBP3.6 billion in October, compared with a deficit of GBP2.5 billion in September.
Excluding oil and erratic items, the deficit on trade in goods was GBP22.9 billion in the three months to October. This was GBP0.5 billion higher than in the preceding three months.
Following the release of the data, the pound remained modestly higher against the U.S. dollar, with GBP/USD adding 0.06% to trade at 1.6105.
Meanwhile, European stock markets were broadly higher. London’s FTSE 100 rose 0.4%, the EURO STOXX 50 gained 0.85%, France’s CAC 40 edged 0.6% higher, while Germany's DAX rallied 1.1%.