Investing.com – The U.K.’s trade deficit widened unexpectedly in October, official data showed on Thursday.
In a report, the U.K. Office for National Statistics said the country's trade deficit widened to a seasonally adjusted GBP 8.5 billion in October, compared to a deficit of GBP 8.4 billion in September, whose figure was revised from a deficit of GBP 8.2 billion.
Economists had expected the trade deficit to narrow to GBP 8.1 billion in October.
The report said that the volume of exports rose by GBP 0.9 billion in October, while the volume of imports rose by GBP 1.1 billion.
Following the release of the data, the pound was down against the U.S. dollar, with GBP/USD shedding 0.20% to hit 1.5771.
Meanwhile, European stock markets were mixed. The FTSE 100 gained 0.14%, the EURO STOXX 50 was up 0.36%, France’s CAC 40 added 0.22%, while Germany's DAX fell 0.23%.
In a report, the U.K. Office for National Statistics said the country's trade deficit widened to a seasonally adjusted GBP 8.5 billion in October, compared to a deficit of GBP 8.4 billion in September, whose figure was revised from a deficit of GBP 8.2 billion.
Economists had expected the trade deficit to narrow to GBP 8.1 billion in October.
The report said that the volume of exports rose by GBP 0.9 billion in October, while the volume of imports rose by GBP 1.1 billion.
Following the release of the data, the pound was down against the U.S. dollar, with GBP/USD shedding 0.20% to hit 1.5771.
Meanwhile, European stock markets were mixed. The FTSE 100 gained 0.14%, the EURO STOXX 50 was up 0.36%, France’s CAC 40 added 0.22%, while Germany's DAX fell 0.23%.