UK trade deficit widens in August

<p>The UK trade deficit got larger in August, according to the Office for National Statistics.</p>

The UK's trade deficit grew by more than double in August, with the difference in goods and services shipped in and out of the country widening to £4.2 billion.

This, according to the Office for National Statistics, is compared to July's £1.7 billion.

Looking at the European Union overall – including the debt-addled eurozone – the UK's deficit within the 27-nation bloc widened to £4.9 billion compared to the previous month's £4.4 billion.

Manufacturing production in the country was down 1.1 per cent in August after a downward revision to 3.1 per cent in July, while the UK's goods trade deficit gaped by more than anticipated to £9.8 billion.

Speaking to the BBC, economist at manufacturers group EEF Lee Hopley said: "The trade statistics continue to provide few reasons for optimism in the short term."

At 10:55 BST, the pound was lower versus the dollar to £1 buying $1.601, while it gained 0.1 per cent in trading with the euro to £1 for every €1.237.

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