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U.K. goods trade deficit widens to GBP9.4 billion in February

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Investing.com - The U.K.'s goods trade deficit widened to the highest level in four months in February, official data showed on Tuesday.

In a report, the U.K. Office for National Statistics said the country's goods trade deficit widened to a seasonally adjusted GBP9.4 billion in February from a deficit of GBP8.2 billion in January.

Economists had expected the goods trade deficit to widen to GBP8.6 billion in February.

Seasonally adjusted, the U.K.'s deficit on trade in goods and services was estimated to have been GBP3.6 billion in February, compared with a deficit of GBP2.5 billion in January.

U.K. trade data shows the extent of import and export activity, a key contributor to the overall economic growth of the U.K.

Following the release of the data, the pound held on to gains against the U.S. dollar, with GBP/USD adding 0.21% to trade at 1.5286.

Meanwhile, European stock markets were higher. London's FTSE 100 rose 0.7%, the EURO STOXX 50 gained 0.9%, France's CAC 40 advanced 0.9%, while Germany's DAX tacked on 0.7%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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