Menu
10/07/2012
ONS Say UK Headed For Worst Trade Deficit In Four Years
The Office for National Statistics has said that the UK is heading for its biggest trade deficit since the worst of the financial crisis in 2008, despite official figures showing the situation improved in May.
Several economists have also discounted a rise in manufacturing production in the same month, arguing that the trend remained downwards.
Figures from the ONS show a reduction in the UK's deficit in goods and services to £2.7bn in May, down from £4.1bn in the previous month.
The deficit in goods also declined to £8.4bn, compared with a deficit of £9.7bn in April.
Investors who pushed the FTSE up 48 points by midday to 5675 cheered the declines.
A rise in factory output of 1.2% added to the cheery atmosphere after a run of poor figures for the manufacturing sector since the spring.
However, output was boosted by a decision to shift a bank holiday from May to June, creating an extra day's work, economists said. The run of bank holidays in June to mark the Queen's diamond jubilee is expected to trigger a dive in output, more than wiping out May's gains.
(H)
Several economists have also discounted a rise in manufacturing production in the same month, arguing that the trend remained downwards.
Figures from the ONS show a reduction in the UK's deficit in goods and services to £2.7bn in May, down from £4.1bn in the previous month.
The deficit in goods also declined to £8.4bn, compared with a deficit of £9.7bn in April.
Investors who pushed the FTSE up 48 points by midday to 5675 cheered the declines.
A rise in factory output of 1.2% added to the cheery atmosphere after a run of poor figures for the manufacturing sector since the spring.
However, output was boosted by a decision to shift a bank holiday from May to June, creating an extra day's work, economists said. The run of bank holidays in June to mark the Queen's diamond jubilee is expected to trigger a dive in output, more than wiping out May's gains.
(H)
Related UK National News Stories
Click here for the latest headlines.
25 March 2011
BBC Confirms Pension Deficit Figures
The BBC has confirmed the official deficit figures for the staff pension scheme. Management's proposals for addressing the deficit sparked a major dispute with staff in 2010. The BBC advised senior officials from BECTU and the NUJ that the official deficit figure in the corporation's scheme stands at £1.
BBC Confirms Pension Deficit Figures
The BBC has confirmed the official deficit figures for the staff pension scheme. Management's proposals for addressing the deficit sparked a major dispute with staff in 2010. The BBC advised senior officials from BECTU and the NUJ that the official deficit figure in the corporation's scheme stands at £1.
15 September 2004
Official figures show big rise in employment rate
Employment levels are up, and the number of people claiming out-of-work benefits is down, according to official figures out today. The number of people in work in the UK was 28.3 million in the three months to July 2004, up 179,000 in a year. Official unemployment figures show a fall of 87,000 to 1.41 million over the same period.
Official figures show big rise in employment rate
Employment levels are up, and the number of people claiming out-of-work benefits is down, according to official figures out today. The number of people in work in the UK was 28.3 million in the three months to July 2004, up 179,000 in a year. Official unemployment figures show a fall of 87,000 to 1.41 million over the same period.
09 December 2004
UK trade deficit gap widens by 0.9bn
The UK’s deficit on trade in goods and services is estimated to have widened by around 0.9 billion in October up from a deficit of £2.9 billion in September to £3.8 billion in October.
UK trade deficit gap widens by 0.9bn
The UK’s deficit on trade in goods and services is estimated to have widened by around 0.9 billion in October up from a deficit of £2.9 billion in September to £3.8 billion in October.
09 September 2003
UK trade gap narrows to £3.3bn
The UK economy has received a fillip today with the latest figures on global trade revealing that the trade deficit narrowed significantly in July. Economists forecast growth in the economy as a much hoped for rebound in the US economy and a recovery in the Eurozone countries is likely to fuel demand for UK goods and services.
UK trade gap narrows to £3.3bn
The UK economy has received a fillip today with the latest figures on global trade revealing that the trade deficit narrowed significantly in July. Economists forecast growth in the economy as a much hoped for rebound in the US economy and a recovery in the Eurozone countries is likely to fuel demand for UK goods and services.
09 June 2003
Manufacturing output 'flat' over first quarter of 2003
According to an Office of National Statistics report published today, manufacturing output was flat in the three months to April, compared with the three months to January.
Manufacturing output 'flat' over first quarter of 2003
According to an Office of National Statistics report published today, manufacturing output was flat in the three months to April, compared with the three months to January.
-
Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
