Investing.com - Public sector net borrowing in the U.K. posted a smaller-than-expected deficit in January, official data showed on Thursday.
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 GBP9.9 billion in January, compared to a surplus of GBP12.4 billion in December, whose figure was revised from GBP13.2 billion.
Analysts had expected U.K. public sector net borrowing to post a deficit of GBP11.2 billion in January.
Following the release of that data, the pound trimmed losses against the U.S. dollar, with GBP/USD shedding 0.05% to trade at 1.5224.
Meanwhile, European stock markets remained sharply lower. London’s FTSE 100 dropped 1.35%, the EURO STOXX 50 tumbled 1.7%, France’s CAC 40 lost 1.8%, while Germany's DAX retreated 1.6%.
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 GBP9.9 billion in January, compared to a surplus of GBP12.4 billion in December, whose figure was revised from GBP13.2 billion.
Analysts had expected U.K. public sector net borrowing to post a deficit of GBP11.2 billion in January.
Following the release of that data, the pound trimmed losses against the U.S. dollar, with GBP/USD shedding 0.05% to trade at 1.5224.
Meanwhile, European stock markets remained sharply lower. London’s FTSE 100 dropped 1.35%, the EURO STOXX 50 tumbled 1.7%, France’s CAC 40 lost 1.8%, while Germany's DAX retreated 1.6%.