U.K. Current Account Deficit Narrows To GBP9.1 Bln In Q2

Sep 26, 2007 - The U.K. current accout deficit narrowed to 9.1 billion pounds in the second quarter, the Office of National Statistics, or ONS, indicated Wednesday. The deficit declined from 10.6 billion pounds registered in the previous quarter. The shortfall is smaller than the expected deficit of 11.5 billion pounds in the second quarter.

The ONS said, “The second quarter deficit is equivalent to -2.6% of GDP compared with -3.1% in the previous quarter.”

The surplus on trade in services rose 0.6 billion pounds to 8.9 billion pounds, while the deficit of trade in goods narrowed 0.3 billion pounds to 20.3 billion pounds.