Investing.com – Public sector net borrowing in the U.K. increased more-than-expected in August, official data showed on Tuesday.
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 rose to GBP 15.3 billion in August, up from GBP 3.2 billion in July.
Economists had expected public sector net borrowing to rise to GBP 12.3 billion in August.
The report showed that year-on-year, U.K. public sector net borrowing was GBP 58.1 billion in August, down from GBP 61.9 billion in July.
Following the release of the data, the pound was down against the U.S. dollar, with GBP/USD shedding 0.02% to hit 1.5442.
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 rose to GBP 15.3 billion in August, up from GBP 3.2 billion in July.
Economists had expected public sector net borrowing to rise to GBP 12.3 billion in August.
The report showed that year-on-year, U.K. public sector net borrowing was GBP 58.1 billion in August, down from GBP 61.9 billion in July.
Following the release of the data, the pound was down against the U.S. dollar, with GBP/USD shedding 0.02% to hit 1.5442.