Pound steady as public sector borrowing falls to 12 8bn
Sterling is steady following news public sector borrowing has fallen.
Sterling is steady following news public sector borrowing has fallen.
The pound is steady in forex trading this morning (October 19th), as it has been revealed public sector borrowing in the UK has fallen to £12.8 billion.
According to the Office for National Statistics, this was down from £13.5 billion in the same month last year and was below market expectations.
Furthermore, the previous months' data for this financial year was revised lower by a total of £6.7 billion.
August's record figure of £14.4 billion was changed from £14.4 billion to £12.8 billion.
Total government net debt has now been taken to £1,065 million – which is equivalent to 67.9 per cent to total annual economic output, with public borrowing for the year now standing at £38.6 billion compared to this time last year's figure of 362.8 billion.
At 10:55 BST, the pound appreciated by 0.1 per cent to £1 buying $1.606, while against the euro sterling rose by 0.2 per cent, so £1 now equals €1.230.
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