Economics
U.K. Goods-Trade Gap Widens to Record as Exports Fall: Economy
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Britain’s trade deficit widened to a record in the second quarter as the impact of the euro-area debt crisis and cooling global growth sapped demand for exports.
The goods-trade gap increased to 28.3 billion pounds ($44.3 billion pounds) from 25 billion pounds in the previous quarter, the Office for National Statistics said today in London. Exports fell 4.9 percent, while imports slipped 0.5 percent. In June, the deficit widened more than economists forecast to 10.1 billion pounds, partly due to the impact of public holidays.