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UK Goods Trade Balance deficit narrowed to £9.7 billion

Friday, Dec 09 2016
UK Goods Trade Balance deficit narrowed to £9.7 billion

The UK’s deficit on trade in goods and services was estimated to have been £2.0 billion in October 2016, a narrowing of £3.8 billion from September 2016. Exports increased by £2.0 billion and imports decreased by £1.8 billion. The deficit on trade in goods was £9.7 billion in October 2016, narrowing by £4.1 billion from September 2016. This narrowing reflected a £2.1 billion increase in exports to £26.8 billion and a £2.0 billion decrease in imports to £36.5 billion.

Between the 3 months to July 2016 and the 3 months to October 2016, the total trade deficit for goods and services widened by £4.7 billion to £13.2 billion. Between the 3 months to July 2016 and the 3 months to October 2016, the deficit on trade in goods widened by £6.2 billion to £37.0 billion. Exports increased by £1.6 billion (2.0%) and imports increased by £7.7 billion (7.3%).

 

Sterling is currently being traded at 1.26 handle. Pair is likely to find support around 1.2530 level and resistance above 1.27 area.

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