Investing.com - The public sector net borrowing surplus in the U.K. narrowed more-than-expected in October, 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 GBP6.4 billion in October.
Analysts had expected the U.K. public sector net borrowing surplus to narrow to GBP7.3 billion last month from a surplus of GBP8.6 billion in September, whose figure was revised down from a GBP9.4 billion surplus.
Public sector net borrowing excluding temporary effects of financial interventions was GBP8.1 billion, compared to expectations for GBP7.5 billion.
Public sector net debt excluding temporary effects of financial interventions was GBP1,207.2 billion at the end of October, equivalent to 75.4% of gross domestic product.
Following the release of the data, the pound remained lower against the U.S. dollar, with GBP/USD shedding 0.1% to trade at 1.6089.
Meanwhile, European stock markets held on to losses. London’s FTSE 100 dipped 0.3%, the EURO STOXX 50 fell 0.45%, France’s CAC 40 dropped 0.7% lower, while Germany's DAX slumped 0.35%.
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 GBP6.4 billion in October.
Analysts had expected the U.K. public sector net borrowing surplus to narrow to GBP7.3 billion last month from a surplus of GBP8.6 billion in September, whose figure was revised down from a GBP9.4 billion surplus.
Public sector net borrowing excluding temporary effects of financial interventions was GBP8.1 billion, compared to expectations for GBP7.5 billion.
Public sector net debt excluding temporary effects of financial interventions was GBP1,207.2 billion at the end of October, equivalent to 75.4% of gross domestic product.
Following the release of the data, the pound remained lower against the U.S. dollar, with GBP/USD shedding 0.1% to trade at 1.6089.
Meanwhile, European stock markets held on to losses. London’s FTSE 100 dipped 0.3%, the EURO STOXX 50 fell 0.45%, France’s CAC 40 dropped 0.7% lower, while Germany's DAX slumped 0.35%.