Investing.com – Public sector net borrowing in the U.K. rose less-than-expected in March, 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 jumped to GBP16.4 billion in March, after rising by GBP7.9 billion in February, whose figure was revised down from GBP10.3 billion.
Economists had expected public sector net borrowing to increase to GBP18.7 billion in March.
Following the release of that data, the pound was up against the U.S. dollar, with GBP/USD rising 0.73% to hit 1.6529.
Meanwhile, European stock markets were up. The FTSE 100 edged 0.13% higher, the EURO STOXX 50 gained 0.38%, France’s CAC 40 added 0.28%, while Germany's DAX climbed 0.55%.
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 jumped to GBP16.4 billion in March, after rising by GBP7.9 billion in February, whose figure was revised down from GBP10.3 billion.
Economists had expected public sector net borrowing to increase to GBP18.7 billion in March.
Following the release of that data, the pound was up against the U.S. dollar, with GBP/USD rising 0.73% to hit 1.6529.
Meanwhile, European stock markets were up. The FTSE 100 edged 0.13% higher, the EURO STOXX 50 gained 0.38%, France’s CAC 40 added 0.28%, while Germany's DAX climbed 0.55%.