Investing.com – Public sector net borrowing in the U.K. fell more-than-expected in December, official data showed on Tuesday.
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 GBP15.3 billion in December, compared to GBP19.7 billion in November, whose figure was revised down from GBP22.8 billion.
Economists had expected public sector net borrowing to decline to GBP18.3 billion in December.
Following the release of that data, the pound was down against the U.S. dollar, with GBP/USD plunging 1.11% to hit a two-week low of 1.5808.
Meanwhile, European stock markets were mixed. The FTSE 100 shed 0.35%, the EURO STOXX 50 dropped 0.46%, France’s CAC 40 was up 0.04%, while Germany's DAX climbed 0.13%.
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 GBP15.3 billion in December, compared to GBP19.7 billion in November, whose figure was revised down from GBP22.8 billion.
Economists had expected public sector net borrowing to decline to GBP18.3 billion in December.
Following the release of that data, the pound was down against the U.S. dollar, with GBP/USD plunging 1.11% to hit a two-week low of 1.5808.
Meanwhile, European stock markets were mixed. The FTSE 100 shed 0.35%, the EURO STOXX 50 dropped 0.46%, France’s CAC 40 was up 0.04%, while Germany's DAX climbed 0.13%.