UK August trade data was also only a 10-Oct
- GBP -12.289 bln prev revised down from -11.576 bln
- trade balance non-EU GBP -5.835 bln vs -3.6 bln exp vs -5.345 bln prev revised down from -3.842 bln
- the trade balance GBP -5.62 bln vs -2.8 bln exp vs -4.238 bln prev revised down from -2.872 bln
Another terribly soggy report on the trade, with a rise in the GBP over the period to help our economy a net importer, but not a lot to help our beleaguered exporters.
The compensation of some of the positive aspects of a better ind & mftg production data and GBPUSD caps ? Yep 1.3200. Don’t say you weren’t warned !
Currently 1.3182 with EURGBP 0.8933 from another test 0.8925 area.
Said the ONS:
Between three months up to May 2017, and the three months to August 2017, the total UK trade (goods and services) to the exclusion of erratic commodity deficit widened by £2.9 billion to £10.8 billion.
Between three months up to May 2017, and the three months to August 2017, the total UK trade (goods and services) deficit widened by £6.2 billion to £13.2 billion; this was due in large part to the shift from a surplus to a deficit of the balance of the irregularity of the raw materials, such as non-monetary gold, that can have significant effects on the title of the movements and it is difficult to discern the underlying trends so that users are encouraged to put more emphasis on the united KINGDOM trade, to the exclusion of erratic commodity balance.
Between three months up to May 2017, and the three months to August 2017, with total trade in goods exports have fallen due to the decrease of exports to the EU countries, partly offset by increased exports to other EU countries.
Trade in goods export volumes excluding oil and erratics fell, while the trade in goods, the import volume excluding oil and erratics, rose, over the three months to August 2017.
The total trade deficit (goods and services) to the exclusion of erratic commodities expanded by £1.7 billion £4.6 billion between July and August 2017.
Full report here
UK visible trade deficit mm