Breaking News

U.K. Q3 current account deficit widens to record high

Economic IndicatorsDec 22, 2011 04:45AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items

Investing.com – The U.K.’s current account deficit widened unexpectedly to highest level since records began in 1955 during the third quarter, official data showed on Tuesday.

In a report, the U.K.’s National Statistics Office said that the U.K. current account recorded a seasonally adjusted deficit of GBP15.2 billion in the third quarter, increasing from a deficit of GBP7.4 billion in the preceding quarter, whose figure was revised from a deficit of GBP2.0 billion.

Economists had expected the current account deficit to narrow to GBP5.5 billion.

According to the data, the trade deficit widened to GBP9.9 billion in the third quarter of 2011, up from GBP7.2 billion the previous quarter.

The income surplus was GBP0.3 billion, the smallest surplus since the fourth quarter of 2000.

Following the release of that data, the pound remained higher against the U.S. dollar, with GBP/USD easing up 0.09% to hit 1.5690.

Meanwhile, European stock markets were broadly higher. The FTSE 100 climbed 1.15%, the EURO STOXX 50 rallied 1.3%, France’s CAC 40 jumped 1.2%, while Germany's DAX surged 1.25%.

U.K. Q3 current account deficit widens to record high

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Are you sure you want to delete this chart?
Write your thoughts here
Replace the attached chart with a new chart ?
Post also to:
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Post 1000
Please wait a minute before you try to comment again.
Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Add Chart to Comment
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
Sign up with Email