Trade balance narrows sharply in January
28 July, 2011
Figures out this morning showed the UK trade gap is at its narrowest level for nearly a year, down to £7bn in January from £9.7bn in December.
Although good news for the UK economy, the figures are relatively volatile, so it is too early to say whether we are seeing a longer-term rebalancing of trade.
Tomorrow is a crucial day for sterling, with GDP estimate, industrial & manufacturing production, and the Bank of England’s interest rate decision all released throughout the day.
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