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U.K. goods trade deficit narrows to £8.6 billion in April

Published 09/06/2015, 09:33
Updated 09/06/2015, 09:35
© Reuters. U.K. goods trade deficit narrows more than expected in April
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Investing.com - The U.K.’s goods trade deficit narrowed more than expected in April, official data showed on Tuesday.

In a report, the U.K. Office for National Statistics said the country's goods trade deficit narrowed to a seasonally adjusted £8.6 billion in April from a deficit of £10.7 billion in March. Economists had expected the goods trade deficit to narrow to £9.9 billion in April.

Exports of goods increased by £0.7 billion, of which £0.6 billion was attributed to countries outside of the European Union. Imports of goods fell by £1.5 billion, reflecting falls in the imports of miscellaneous manufactures.

U.K. trade data shows the extent of import and export activity, a key contributor to the overall economic growth of the U.K.

GBP/USD was trading at 1.5301 from around 1.5303 ahead of the announcement, while EUR/GBP was at 0.7381 from 0.7380 earlier.

Meanwhile, European stock markets remained mostly lower. London’s FTSE 100 was flat, the EURO STOXX 50 shed 0.35%, France's CAC 40 dipped 0.35%, while Germany's DAX slipped 0.45%.

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