Hopes that the cheaper pound will boost exports dealt a blow as the UK's trade deficit widens
Hopes that the cheaper pound will boost UK exports were dealt a blow today as official figures showed Britain's trade deficit widening by £2.5billion in August.
The Office for National Statistics said the deficit on trade in goods and services reached £4.7billion in August 2016.
While imports increased by £2.6billion, exports only rose by £100million – although optimists would point out that weaker sterling exchange rates might not have had chance to make an impact by then.
Sterling has fallen to fresh three-decade lows this week to trade near $1.242 against the US dollar and €1.117... read more
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