UK Current Account Deficit Reaches 22.4 Billion Pounds

The UK’s current account deficit was larger than expected in the final quarter of last year, official figures have shown.

The deficit in the three months to December was £22.4bn, only marginally lower than the all-time high of £22.8bn recorded in the previous quarter.

Economists had expected the UK’s deficit to narrow to about £14bn in the final three months of the year.

One analyst described the deficit as “worryingly large”.

The current account deficit for the year was £71.1bn, equal to 4.4% of UK GDP and slightly lower than the highest current account deficit of 4.6% of GDP recorded in 1989, the Office for National Statistics (ONS) said.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza