Aug trade Gap Narrows; Q2 Deficit Revised...>

UK DATA: Aug trade Gap Narrows; Q2 Deficit Revised Sharply Higher

- UK Aug total deficit Stg1.546bn vs Stg1.681bn in July

- UK Aug goods deficit Stg9.806bn vs Stg9.625bn in July

- UK Q2 deficit revised to Stg11.394bn from Stg6.874bn previous

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The UK trade deficit narrowed modestly in August, but still exceeded the

median forecast of a Stg1.05bn shortfall. However, the July deficit 

was revised higher from the originally-reported gap of Stg219 million. 

Blue Blook data enhancements introduced last month also prompted an 

upward revision of the Q2 trade gap, however, National Statistics 

officials would not comment on trade's contribution to later iterations 

of Q2 GDP. Net trade added 2.6pp to growth, according to the Q2 National 

Accounts released last month. Exports of goods slipped by 0.5% between 

July and August, while goods imports rose 0.1%.