Investing.com – Public sector net borrowing in the U.K. increased unexpectedly in September, official data showed on Wednesday.
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 rose to GBP 15.6 billion in September, up from GBP 14.2 billion in August, whose figure was revised down from GBP 15.3 billion.
Economists had expected public sector net borrowing to remain unchanged at GBP 14.2 billion in September.
Following the release of the data, the pound was up against the U.S. dollar, with GBP/USD gaining 0.04% to hit 1.5711.
Meanwhile, European stock markets were down: London’s FTSE 100 shed 0.22%, Germany's DAX fell 0.13%, France’s CAC 40 decreased 0.25% and the EURO STOXX 50 was down 0.21%.
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 rose to GBP 15.6 billion in September, up from GBP 14.2 billion in August, whose figure was revised down from GBP 15.3 billion.
Economists had expected public sector net borrowing to remain unchanged at GBP 14.2 billion in September.
Following the release of the data, the pound was up against the U.S. dollar, with GBP/USD gaining 0.04% to hit 1.5711.
Meanwhile, European stock markets were down: London’s FTSE 100 shed 0.22%, Germany's DAX fell 0.13%, France’s CAC 40 decreased 0.25% and the EURO STOXX 50 was down 0.21%.