Investing.com – Public sector net borrowing in the U.K. fell more-than-expected in October, 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 GBP3.4 billion, from GBP10.2 billion in September, whose figure was revised down from GBP11.4 billion.
Analysts had expected U.K. public sector net borrowing to decline to GBP4.3 billion.
Following the release of that data, the pound was fractionally higher against the U.S. dollar, with GBP/USD easing up 0.08% to trade at 1.5655.
Meanwhile, European stock markets held on to gains. The FTSE 100 rose 0.45%, the EURO STOXX 50 added 0.35%, France’s CAC 40 gained 0.6%, while Germany's DAX advanced 0.25%.
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 GBP3.4 billion, from GBP10.2 billion in September, whose figure was revised down from GBP11.4 billion.
Analysts had expected U.K. public sector net borrowing to decline to GBP4.3 billion.
Following the release of that data, the pound was fractionally higher against the U.S. dollar, with GBP/USD easing up 0.08% to trade at 1.5655.
Meanwhile, European stock markets held on to gains. The FTSE 100 rose 0.45%, the EURO STOXX 50 added 0.35%, France’s CAC 40 gained 0.6%, while Germany's DAX advanced 0.25%.