UK trade deficit widens in August as low pound fails to reinforce exports
Business leaders have called for the UK government to shore up firms exporting goods and services after it emerged that the nation’s trade deficit grew by £2.5 billion between July and August.
The Office for National Statistics (ONS) said the deficit in goods and services reached £4.7bn in August, missing economist forecasts for £4bn and coming despite hopes that a weaker pound had been boosting exports in the wake of the Brexit vote.
Imports rose by £2.6bn, while exports only grew by £100 million. Additionally, the overall deficit increase came after a drop of £1.1bn between June and... read more
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