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Friday, August 10, 2012

''Shock trade figures deal a blow to UK recovery hopes''

From The Telegraph

''The trade in goods deficit jumped to £10.1bn in June from £8.4bn in May after an 8.4pc fall in exports far outpaced a 1.2pc fall in imports, the Office for National Statistics said.

Economists had forecast a far smaller rise in the goods deficit to £8.7bn.

Chris Williamson, chief economist at Markit described the data as a "huge disappointment".

The figures will come as a major blow to the Chancellor and other policymakers who have been hoping that a renewed focus on exports will drive recovery in Britain.''

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