Current Account deficit narrowed to 25.5 billion pounds

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Friday, Dec 23 2016

Current Account deficit narrowed to 25.5 billion pounds

The UK’s current account deficit was £25.5 billion in Quarter 3 (July to September) 2016, up from a revised deficit of £22.1 billion in Quarter 2 (April to June) 2016. The deficit in Quarter 3 2016 equated to 5.2% of gross domestic product (GDP) at current market prices, up from 4.6% in Quarter 2 2016. The widening in the current account deficit was mainly due to a widening in the deficits on total trade and secondary income, partially offset by a narrowing in the primary income deficit.

Searate report showed that UK GDP in volume terms was estimated to have increased by 0.6% in Quarter 3 2016, revised up 0.1 percentage points from the second estimate of GDP published on 26 November 2016, due to upward revisions from the output of the business services and finance industries. This is the 15th consecutive quarter of positive growth since Quarter 1 (Jan to Mar) 2013.

More in this category: « Durable Goods Orders down by 4.6% New Home Sales rose to 592,000 »

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