UK ECONOMY: Trade deficit widens, construction output falls

cliff dive fall

REUTERS/Brian Snyder

LONDON – The UK's trade gap widened and construction output fell in the three months to August, according to the latest data from the Office of National Statistics.

The UK trade deficit with the rest of the world increased by £2.9 billion to £10.8, the ONS said.

Exports of goods to the European Union increased 4.1%, while exports to non-EU countries fell more than 8% led by a decrease in fuel exports.

The figures are adjusted to exclude "erratic commodities" that can skew the data, such as gold and aircraft.

Meanwhile construction output contracted by 0.8% in the three months to August "due to decreases in both repair and maintenance, which fell 0.6% and all new work, which fell 0.9%," according to the ONS.

Construction output is still high compared to previous years, as the chart shows:

constructionONS

ONS

 

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