Investing.com – The U.K.’s goods trade deficit narrowed more-than-expected in January, official data showed on Wednesday.
In a report, the U.K. Office for National Statistics said the country's goods trade deficit narrowed to a seasonally adjusted GBP7.1 billion in January, compared to a deficit of GBP9.7 billion in December, whose figure was revised from a deficit of GBP9.2 billion.
Economists had expected the goods trade deficit to narrow to GBP8.5 billion in January.
The report said that the total trade deficit narrowed to GBP2.95 billion in January, compared to a deficit of GBP5.4 billion the previous month. Analysts had expected the total trade deficit to narrow to GBP4.0 billion.
Following the release of the data, the pound was up against the U.S. dollar, with GBP/USD gaining 0.15% to hit 1.6185.
Meanwhile, European stock markets were up. The FTSE 100 rose 0.12%, the EURO STOXX 50 gained 0.31%, France’s CAC 40 added 0.21%, while Germany's DAX was up 0.51%.
In a report, the U.K. Office for National Statistics said the country's goods trade deficit narrowed to a seasonally adjusted GBP7.1 billion in January, compared to a deficit of GBP9.7 billion in December, whose figure was revised from a deficit of GBP9.2 billion.
Economists had expected the goods trade deficit to narrow to GBP8.5 billion in January.
The report said that the total trade deficit narrowed to GBP2.95 billion in January, compared to a deficit of GBP5.4 billion the previous month. Analysts had expected the total trade deficit to narrow to GBP4.0 billion.
Following the release of the data, the pound was up against the U.S. dollar, with GBP/USD gaining 0.15% to hit 1.6185.
Meanwhile, European stock markets were up. The FTSE 100 rose 0.12%, the EURO STOXX 50 gained 0.31%, France’s CAC 40 added 0.21%, while Germany's DAX was up 0.51%.