–Oct Global Goods Trade Deficit Stg7.557bn vs Stg10.175bn Sep
–Oct Non-EU Goods Trade Deficit Stg4.554bn vs Stg5.712bn Sep
–Oct Total Trade Deficit Stg1.552bn vs Stg4.298bn Aug
LONDON (MNI) – The UK’s goods trade deficit narrowed at its
fastest pace on record in October as exports surged, figures released
by National Statistics revealed Friday.
While the data are erratic on a monthly basis, at face value they
do point to net exports possibly having a positive contribution on GDP
growth in Q4, in spite of the current turmoil in the world economy. Note
though that construction data also released today could potentially hit
growth in Q4.
The trade in goods shortfall narrowed to Stg7.557 billion in
October from Stg10.175 billion in September below the median forecast
for an outturn of Stg9.4 billion.
Exports surged 8.7% on the month in October the largest monthly
rise on record, while imports fell 1.5%. There were strong exports to
non-EU countries of chemicals and medical products and capital goods to
the European Union.
Excluding oil and erratic items the shortfall narrowed to Stg6.346
billion in October from Stg8.731 billion in September.
–London newsroom: 44 20 7862 7491; email: drobinson@marketnews.com
[TOPICS: M$BDS$,M$B$$$,MT$$$$,MABDS$]