Investing.com – Public sector net borrowing in the U.K. rose less-than-expected in December, 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 totaled GBP10.8 billion in December, compared to GBP15.1 billion in November, whose figure was revised down from GBP15.2 billion.
Analysts had expected U.K. public sector net borrowing to total GBP12.5 billion in December.
The report showed net borrowing excluding the temporary effects of financial interventions of GBP13.7 billion in December, falling short of expectations of GBP14.9 billion.
Net debt excluding the temporary effects of financial interventions was GBP1003.9 billion, equivalent to 64.2% of GDP.
Following the release of that data, the pound held on to losses against the U.S. dollar, with GBP/USD shedding 0.16% to trade at 1.5542.
Meanwhile, European stock markets were broadly lower. London’s FTSE 100 declined 0.55%, the EURO STOXX 50 fell 0.65%, France’s CAC 40 slumped 0.7%, while Germany's DAX dropped 0.65%.
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 totaled GBP10.8 billion in December, compared to GBP15.1 billion in November, whose figure was revised down from GBP15.2 billion.
Analysts had expected U.K. public sector net borrowing to total GBP12.5 billion in December.
The report showed net borrowing excluding the temporary effects of financial interventions of GBP13.7 billion in December, falling short of expectations of GBP14.9 billion.
Net debt excluding the temporary effects of financial interventions was GBP1003.9 billion, equivalent to 64.2% of GDP.
Following the release of that data, the pound held on to losses against the U.S. dollar, with GBP/USD shedding 0.16% to trade at 1.5542.
Meanwhile, European stock markets were broadly lower. London’s FTSE 100 declined 0.55%, the EURO STOXX 50 fell 0.65%, France’s CAC 40 slumped 0.7%, while Germany's DAX dropped 0.65%.