Investing.com - The U.K.’s current account deficit widened unexpectedly in the first quarter of 2013, official data showed on Thursday.
In a report, the U.K.’s National Statistics Office said that the U.K. current account recorded a seasonally adjusted deficit of GBP14.5 billion in the three months to March, widening from a deficit of GBP13.6 billion in the preceding quarter, whose figure was revised from a deficit of GBP14 billion.
Economists had expected the current account deficit to narrow to GBP11.8 billion.
Following the release of that data, the pound turned lower against the U.S. dollar, with GBP/USD shedding 0.13% to hit 1.5293.
Meanwhile, European stock markets were mixed. London’s FTSE 100 edged up 0.4%, the EURO STOXX 50 shed 0.2%, France’s CAC 40 fell 0.2%, while Germany's DAX was flat.
In a report, the U.K.’s National Statistics Office said that the U.K. current account recorded a seasonally adjusted deficit of GBP14.5 billion in the three months to March, widening from a deficit of GBP13.6 billion in the preceding quarter, whose figure was revised from a deficit of GBP14 billion.
Economists had expected the current account deficit to narrow to GBP11.8 billion.
Following the release of that data, the pound turned lower against the U.S. dollar, with GBP/USD shedding 0.13% to hit 1.5293.
Meanwhile, European stock markets were mixed. London’s FTSE 100 edged up 0.4%, the EURO STOXX 50 shed 0.2%, France’s CAC 40 fell 0.2%, while Germany's DAX was flat.