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Public Sector Net borrowing in a surplus by £1.0 billion

Friday, Aug 19 2016

Public sector net borrowing (excluding public sector banks) decreased by £3.0 billion to £23.7 billion in the current financial year-to-date (April to July 2016), compared with the same period in 2015. Public sector net borrowing (excluding public sector banks) was in surplus by £1.0 billion in July 2016; a decrease in surplus of £0.2 billion compared with July 2015.

Public sector net debt (excluding public sector banks) at the end of July 2016 was £1,604.2 billion, equivalent to 82.9% of gross domestic product (GDP); an increase of £35.3 billion compared with July 2015. This is the second successive month of debt falling on the year as a percentage of GDP and indicates that GDP is currently increasing (year-on-year) faster than net debt excluding public sector banks. However, care should be taken when inferring trends from only two months' data, especially given the provisional nature of centred GDP estimates for the latest month.

 

Sterling is currently being traded 1.3080 area. Pair is likely to find support around 1.3050 handle and resistance above 1.3130 level.

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