U.K: Current Account in line with expectations…

Wednesday, 28 March 2012 03:28

The Office for National Statistics confirmed today that British Current Account deficit reached GBP8.5 billion in the final quarter of 2011.

Prior quarter reading showed 10.5 billion pounds of deficit.

For the whole 2011 U.K’s Current Account recorded minus GBP29.0 billion.

 The report shows also that country’s trade balance decline to 7.1 billion pounds of deficit, from 8.8 billion reading in third quarter of 2011.

 Also today, Office for National Statistics informed that country’s final GDP declined by 0.3% in last three months of previous year.

British economy was expected to contract by 0.2%.

 All day British Pound remained lower against USD, with couple traded at 1.5896 in the afternoon.