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MNI BRIEF: UK Borrowing Slows In February

(MNI) LONDON
(MNI) London

UK stats office says borrowing slows but still at elevated levels.

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UK borrowing fell to the lowest comparable year-to-date level for four years in nominal terms, the Office for National Statistics said Thursday, although overall borrowing was slightly higher than expected by financial markets.

Public sector net borrowing excluding public sector banks (borrowing) was GBP8.4 billion in Feb, GBP3.4 billion less than in Feb. Borrowing in the financial year-to-Feb was GBP106.8 billion, GBP4.6 billion less than in the same eleven-month period a year ago. (see MNI INTERVIEW:UK Syndicated Sales Help Market Digest Gilts-DMO)

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UK borrowing fell to the lowest comparable year-to-date level for four years in nominal terms, the Office for National Statistics said Thursday, although overall borrowing was slightly higher than expected by financial markets.

Public sector net borrowing excluding public sector banks (borrowing) was GBP8.4 billion in Feb, GBP3.4 billion less than in Feb. Borrowing in the financial year-to-Feb was GBP106.8 billion, GBP4.6 billion less than in the same eleven-month period a year ago. (see MNI INTERVIEW:UK Syndicated Sales Help Market Digest Gilts-DMO)

Keep reading...Show less