Investing.com – Public sector net borrowing in the U.K. rose less-than-expected in November, 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 GBP15.2 billion, from GBP3.0 billion in October, whose figure was revised down from GBP3.4 billion.
Analysts had expected U.K. public sector net borrowing to rise to GBP15.8 billion.
The report showed net borrowing excluding the temporary effects of financial interventions of GBP18.1 billion in November, falling short of expectations of GBP19.7 billion and up sharply from GBP5.8 billion in October.
Net debt excluding the temporary effects of financial interventions was GBP977.1 billion, equivalent to 62.8% of GDP.
Following the release of that data, the pound held on to gains against the U.S. dollar, with GBP/USD rising 0.36% to trade at 1.5720.
Meanwhile, European stock markets were broadly higher. The FTSE 100 rose 0.45%, the EURO STOXX 50 climbed 0.8%, France’s CAC 40 gained 0.8%, while Germany's DAX advanced 0.75%.
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 GBP15.2 billion, from GBP3.0 billion in October, whose figure was revised down from GBP3.4 billion.
Analysts had expected U.K. public sector net borrowing to rise to GBP15.8 billion.
The report showed net borrowing excluding the temporary effects of financial interventions of GBP18.1 billion in November, falling short of expectations of GBP19.7 billion and up sharply from GBP5.8 billion in October.
Net debt excluding the temporary effects of financial interventions was GBP977.1 billion, equivalent to 62.8% of GDP.
Following the release of that data, the pound held on to gains against the U.S. dollar, with GBP/USD rising 0.36% to trade at 1.5720.
Meanwhile, European stock markets were broadly higher. The FTSE 100 rose 0.45%, the EURO STOXX 50 climbed 0.8%, France’s CAC 40 gained 0.8%, while Germany's DAX advanced 0.75%.