Investing.com – Public sector net borrowing in the U.K. rose more-than-expected in August, 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 GBP13.2 billion, above expectations for GBP11.4 billion.
Public sector net borrowing fell by GBP5.6 billion in July, whose figure was revised from a decline of GBP2.0 billion.
Following the release of that data, the pound was down against the U.S. dollar, with GBP/USD slumping 0.53% to trade at 1.5653.
Meanwhile, European stock markets were broadly lower. The FTSE 100 fell 0.7%, the EURO STOXX 50 dropped 1.25%, France’s CAC 40 retreated 1.2%, while Germany's DAX tumbled 1.5%.
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 GBP13.2 billion, above expectations for GBP11.4 billion.
Public sector net borrowing fell by GBP5.6 billion in July, whose figure was revised from a decline of GBP2.0 billion.
Following the release of that data, the pound was down against the U.S. dollar, with GBP/USD slumping 0.53% to trade at 1.5653.
Meanwhile, European stock markets were broadly lower. The FTSE 100 fell 0.7%, the EURO STOXX 50 dropped 1.25%, France’s CAC 40 retreated 1.2%, while Germany's DAX tumbled 1.5%.