Investing.com - Public sector net borrowing in the U.K. posted a smaller-than-expected surplus in February, 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 surplus of GBP4.4 billion in February, compared to a deficit of GBP10.3 billion in January, whose figure was revised from GBP9.9 billion.
Analysts had expected U.K. public sector net borrowing to post a surplus of GBP8.3 billion in February.
Following the release of the data, the pound added to gains against the U.S. dollar, with GBP/USD rising 0.6% to trade at 1.5191.
Meanwhile, European stock markets held on to losses. London’s FTSE 100 declined 0.7%, the EURO STOXX 50 fell 0.7%, France’s CAC 40 dropped 0.8%, while Germany's DAX slumped 0.7%.
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 GBP4.4 billion in February, compared to a deficit of GBP10.3 billion in January, whose figure was revised from GBP9.9 billion.
Analysts had expected U.K. public sector net borrowing to post a surplus of GBP8.3 billion in February.
Following the release of the data, the pound added to gains against the U.S. dollar, with GBP/USD rising 0.6% to trade at 1.5191.
Meanwhile, European stock markets held on to losses. London’s FTSE 100 declined 0.7%, the EURO STOXX 50 fell 0.7%, France’s CAC 40 dropped 0.8%, while Germany's DAX slumped 0.7%.