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10/07/2012
ONS Say UK Headed For Worst Trade Deficit In Four Years
The Office for National Statistics has said that the UK is heading for its biggest trade deficit since the worst of the financial crisis in 2008, despite official figures showing the situation improved in May.
Several economists have also discounted a rise in manufacturing production in the same month, arguing that the trend remained downwards.
Figures from the ONS show a reduction in the UK's deficit in goods and services to £2.7bn in May, down from £4.1bn in the previous month.
The deficit in goods also declined to £8.4bn, compared with a deficit of £9.7bn in April.
Investors who pushed the FTSE up 48 points by midday to 5675 cheered the declines.
A rise in factory output of 1.2% added to the cheery atmosphere after a run of poor figures for the manufacturing sector since the spring.
However, output was boosted by a decision to shift a bank holiday from May to June, creating an extra day's work, economists said. The run of bank holidays in June to mark the Queen's diamond jubilee is expected to trigger a dive in output, more than wiping out May's gains.
(H)
Several economists have also discounted a rise in manufacturing production in the same month, arguing that the trend remained downwards.
Figures from the ONS show a reduction in the UK's deficit in goods and services to £2.7bn in May, down from £4.1bn in the previous month.
The deficit in goods also declined to £8.4bn, compared with a deficit of £9.7bn in April.
Investors who pushed the FTSE up 48 points by midday to 5675 cheered the declines.
A rise in factory output of 1.2% added to the cheery atmosphere after a run of poor figures for the manufacturing sector since the spring.
However, output was boosted by a decision to shift a bank holiday from May to June, creating an extra day's work, economists said. The run of bank holidays in June to mark the Queen's diamond jubilee is expected to trigger a dive in output, more than wiping out May's gains.
(H)
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Official figures show big rise in employment rate
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UK trade deficit gap widens by 0.9bn
The UK’s deficit on trade in goods and services is estimated to have widened by around 0.9 billion in October up from a deficit of £2.9 billion in September to £3.8 billion in October.
UK trade deficit gap widens by 0.9bn
The UK’s deficit on trade in goods and services is estimated to have widened by around 0.9 billion in October up from a deficit of £2.9 billion in September to £3.8 billion in October.
09 September 2003
UK trade gap narrows to £3.3bn
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UK trade gap narrows to £3.3bn
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09 June 2003
Manufacturing output 'flat' over first quarter of 2003
According to an Office of National Statistics report published today, manufacturing output was flat in the three months to April, compared with the three months to January.
Manufacturing output 'flat' over first quarter of 2003
According to an Office of National Statistics report published today, manufacturing output was flat in the three months to April, compared with the three months to January.
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Northern Ireland WeatherToday:It will be cloudy again throughout the day. Mainly dry in the morning, but patchy drizzle in places, becoming more widespread and persistent in the afternoon. Freshening southwesterly winds. Maximum temperature 12 °C.Tonight:Cloudy with a spell of heavy rain pushing south through late evening and the early hours, followed by some clear spells. Minimum temperature 6 °C.
