Investing.com - The U.K.’s public sector balance posted a deficit in July, official data showed on Wednesday. It was the first deficit for the month of July, which usually shows a surplus due to tax payments, since 2010.
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, posted a deficit of GBP1.6 billion in July.
Analysts had expected the U.K. public sector net borrowing to post a deficit of GBP4.7 billion in July.
Public sector net borrowing posted a surplus of GBP10.5 billion in June, whose figure was revised from a previously reported surplus of GBP10.2 billion.
Public sector net debt was GBP1,193.4 billion at the end of July, equivalent to 74.5% of gross domestic product.
Following the release of the data, the pound was little changed against the U.S. dollar, with GBP/USD adding 0.01% to trade at 1.5669.
Meanwhile, European stock markets remained mixed. London’s FTSE 100 shed 0.4%, the EURO STOXX 50 eased up 0.1%, France’s CAC 40 rose 0.3%, while Germany's DAX was little changed.
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, posted a deficit of GBP1.6 billion in July.
Analysts had expected the U.K. public sector net borrowing to post a deficit of GBP4.7 billion in July.
Public sector net borrowing posted a surplus of GBP10.5 billion in June, whose figure was revised from a previously reported surplus of GBP10.2 billion.
Public sector net debt was GBP1,193.4 billion at the end of July, equivalent to 74.5% of gross domestic product.
Following the release of the data, the pound was little changed against the U.S. dollar, with GBP/USD adding 0.01% to trade at 1.5669.
Meanwhile, European stock markets remained mixed. London’s FTSE 100 shed 0.4%, the EURO STOXX 50 eased up 0.1%, France’s CAC 40 rose 0.3%, while Germany's DAX was little changed.