UK Trade Deficit Narrows - October 07

The UK’s trade deficit has narrowed during October 2007 to £4.1 billion, down from £4.8 billion the previous month.  Over the three month period ending October there has, however, been a widening of the overall trade deficit in goods and services.

Despite this widening, statisticians at the Office of National Statistics believe that the overall trend during 2007 is relatively flat.

The Financial Times today reported concerns expressed by some economists that a decline in imports from EU countries could signal a slowing consumer demand in the UK and a lack of confidence in the medium term economic outlook.

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