Investing.com – Public sector net borrowing in the U.K. fell less-than-expected in October, official data showed on Thursday.
In a report, the U.K. National Statistics Office said that public sector net borrowing, or the difference in value between public spending and income fell to GBP 9.8 billion in October, down from GBP 14.4 billion in September, whose figure was revised down from GBP 15.6 billion.
Economists had expected public sector net borrowing to decrease to GBP 8.9 billion in October.
Following the release of that data, the pound was up against the U.S. dollar, with GBP/USD gaining 0.28% to hit 1.5953.
Meanwhile, European stock markets were up. The FTSE 100 rose 1.30%, the EURO STOXX 50 added 1.46%, France’s CAC 40 gained 1.47%, and Germany's DAX soared 1.35%.
In a report, the U.K. National Statistics Office said that public sector net borrowing, or the difference in value between public spending and income fell to GBP 9.8 billion in October, down from GBP 14.4 billion in September, whose figure was revised down from GBP 15.6 billion.
Economists had expected public sector net borrowing to decrease to GBP 8.9 billion in October.
Following the release of that data, the pound was up against the U.S. dollar, with GBP/USD gaining 0.28% to hit 1.5953.
Meanwhile, European stock markets were up. The FTSE 100 rose 1.30%, the EURO STOXX 50 added 1.46%, France’s CAC 40 gained 1.47%, and Germany's DAX soared 1.35%.