Investing.com - Public sector net borrowing in the U.K. posted a larger-than-expected surplus in March, 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, posted a surplus of GBP16.8 billion in March, compared to a surplus of GBP7.8 billion in February, whose figure was revised from a GBP4.4 billion surplus.
Analysts had expected U.K. public sector net borrowing to post a surplus of GBP14 billion in March.
Public sector net debt was GBP1,185.8 billion at the end of March 2013, equivalent to 75.4% of gross domestic product.
Following the release of the data, the pound added to losses against the U.S. dollar, with GBP/USD shedding 0.54% to trade at 1.5207.
Meanwhile, European stock markets remained mixed. London’s FTSE 100 tacked on 0.3%, the EURO STOXX 50 rose 0.3%, France’s CAC 40 added 0.8%, while Germany's DAX slumped 0.3%.
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 surplus of GBP16.8 billion in March, compared to a surplus of GBP7.8 billion in February, whose figure was revised from a GBP4.4 billion surplus.
Analysts had expected U.K. public sector net borrowing to post a surplus of GBP14 billion in March.
Public sector net debt was GBP1,185.8 billion at the end of March 2013, equivalent to 75.4% of gross domestic product.
Following the release of the data, the pound added to losses against the U.S. dollar, with GBP/USD shedding 0.54% to trade at 1.5207.
Meanwhile, European stock markets remained mixed. London’s FTSE 100 tacked on 0.3%, the EURO STOXX 50 rose 0.3%, France’s CAC 40 added 0.8%, while Germany's DAX slumped 0.3%.