Investing.com - The public sector net borrowing surplus in the U.K. narrowed less-than-expected in April, 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, posted a surplus of GBP8.0 billion in April, down from a surplus of GBP12.6 billion in March, whose figure was revised from a GBP16.8 billion surplus.
Analysts had expected the U.K. public sector net borrowing surplus to narrow to GBP7.0 billion in April.
Public sector net debt was GBP1,185.3 billion at the end of April 2013, equivalent to 75.2% of gross domestic product.
Following the release of the data, the pound added to losses against the U.S. dollar, with GBP/USD shedding 0.4% to trade at 1.5089.
Meanwhile, European stock markets remained mixed. London’s FTSE 100 shed 0.2%, the EURO STOXX 50 eased up 0.1%, France’s CAC 40 dipped 0.1%, while Germany's DAX was little changed.
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 GBP8.0 billion in April, down from a surplus of GBP12.6 billion in March, whose figure was revised from a GBP16.8 billion surplus.
Analysts had expected the U.K. public sector net borrowing surplus to narrow to GBP7.0 billion in April.
Public sector net debt was GBP1,185.3 billion at the end of April 2013, equivalent to 75.2% of gross domestic product.
Following the release of the data, the pound added to losses against the U.S. dollar, with GBP/USD shedding 0.4% to trade at 1.5089.
Meanwhile, European stock markets remained mixed. London’s FTSE 100 shed 0.2%, the EURO STOXX 50 eased up 0.1%, France’s CAC 40 dipped 0.1%, while Germany's DAX was little changed.