• Friday, March 29, 2024

Business

UK Current Account Deficit Widens In September Quarter

UK’s GDP in volume terms was estimated to have increased by 0.6 per cent between second quarter and third quarter of 2018, unrevised from the first quarterly estimate of GDP, ONS added (Photo: Jason Alden/Bloomberg via Getty Images).

By: Radhakrishna N S

UK has witnessed a biggest shortfall in its balance of payments in 24 months during July to September period and recorded a fall in business investment prior to Brexit, according to a data released on Friday (21). The UK’s current account deficit widened by £6.6 billion to £26.5bn in the third quarter of 2018, or 4.9 per cent of gross domestic product (GDP), the largest deficit recorded since third quarter of 2016 in both value and percentage of GDP terms, said UK’s Office for National Statistics (ONS). All of the main components contributed to the worsening current account balance, with…

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