UK's official trade deficit falls in December

Friday 07 February 2014 17.41
Overall UK deficit fell to £7.7 billion in December from £9.8 billion in November
Overall UK deficit fell to £7.7 billion in December from £9.8 billion in November

Britain's trade deficit for goods fell in December to the lowest level for more than a year on rising oil exports and falling imports affecting the transport sector, data showed today.

The overall deficit fell to £7.7 billion sterling from £9.8 billion in November, the Office for National Statistics (ONS) said in a statement.

That was far smaller than market expectations for a December deficit of £9.5 billion, according to analysts.

Separately, the ONS also revealed said today that industrial output across Britain rebounded by 0.4% in December from November.

However, industrial production grew by just 0.5% in the fourth quarter from the figure in the previous three months. That marked a downgrade from the previous expansion figure of 0.7%.