GBP: UK trade deficit narrowed in November – BBH

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 11, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Delhi) – Research Team at BBH, notes that the UK November trade deficit narrowed, though exports fell.

    Key Quotes

    “The overall deficit was GBP3.17 bln, though more than the market expected (GBP2.7 bln), it was smaller than the downwardly revised October shortfall of GBP3.5 bln. The deficit has averaged GBP2.8 bln in the first eleven months of 2015.”

    “The average monthly deficit in Q3 was GBP2.9 bln. Barring a significant improvement in December, which seems unlikely, net exports will be a drag on Q4 GDP. Separately, we note that the UK's trade deficit with the EU reached a record of GBP8.2 bln, spurred by auto imports.”
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