UK Trade Deficit Narrows in October

Britain’s trade deficit narrowed more than expected in October after big upward revisions to previous months following an error in how trade in gold was recorded, official figures showed on Friday.

Construction output fell slightly on the month and in the three months to October continued its downward trend, the Office for National Statistics said, bucking more positive signs in some industry surveys.

On Tuesday the ONS said it had made major errors in the calculation of Britain’s trade deficit between January 2015 and September 2016, due to a misclassification of figures it had received on the trade in gold.

Reuters

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
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 Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. 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.