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Q3 Trade Balance Revised Down Sharply, to...>

UK DATA
UK DATA: Q3 Trade Balance Revised Down Sharply, Neutral Cont. to GDP   
-UK Oct Total Trade Deficit stg3.300bn vs stg2.331bn in Sep 
-UK Oct Visble Trade Deficit stg11.873bn vs stg10.681bn in Sep
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A marked revision in the total Q3 trade deficit from stg2.9bn to 
stg9.8bn cut its contribution to overall third quarter growth to 0.0pp 
from +0.8pp previously. Elsewhere, the trade deficit in Q3 ONS 
statisticians said they found no annecdotal evidence of Brexit-induced 
stockpiling of either food or medicine in October. In fact, imports of 
food were actually lower than the 12 month average. On aggregate, import 
growth of 2.8% m/m (stg1.5bn) offset a 1.0% rise in exports (stg0.549bn) 
leaving the overall trade deficit at 3.3bn, down from stg2.3bn in 
September. 

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