UK trade deficit widens in August
The UK trade deficit got larger in August, according to the Office for National Statistics.
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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