UK First-Quarter Trade Deficit Widens to Biggest Since 2008

Britain’s trade deficit widened in the first quarter of 2016 to its biggest since the early days of the financial crisis, adding to signs that global weakness is weighing on the economy.

The shortfall in the first three months of the year widened to 13.273 billion pounds from 12.205 billion pounds in the last three months of 2015, its biggest for any calendar quarter since the first quarter of 2008, the Office for National Statistics said.

The deficit in goods alone widened to its highest since comparable records began in 1998 at 34.694 billion pounds.

Reuters

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Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.