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U.K. public sector net borrowing posts deficit in July

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Investing.com -

Investing.com - The U.K.'s public sector balance posted a deficit in July, official data showed on Thursday. It was the first deficit since January.

In a report, the U.K. National Statistics Office said that public sector net borrowing, or the difference in value between public spending and income, posted a deficit of £1.1 billion in July.

Analysts had expected the U.K. public sector net borrowing to post a deficit of £2.0 billion last month.

Public sector net borrowing posted a surplus of £9.79 billion in June, whose figure was revised from a previously reported surplus of £9.51 billion.

Public sector net borrowing excluding temporary effects of financial interventions was in deficit of £0.2 billion, compared to expectations for £1.5 billion deficit.

Following the release of the data, the pound added to losses against the U.S. dollar, with GBP/USD shedding 0.14% to trade at 1.6572, compared to 1.6587 before the data.

Meanwhile, European stock markets were higher. London's FTSE 100 tacked on 0.25%, the DJ Euro Stoxx 50 rose 0.7%, France's CAC 40 inched up 0.6%, while Germany's DAX advanced 0.4%.

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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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