Trade Deficit Widens in Aug; No Evidence of.>

UK DATA: Trade Deficit Widens in Aug; No Evidence of Goods Stockpiling  

-UK Aug Total Trade Deficit stg1.274bn vs stg0.572bn in Jul 

-UK Aug Visble Trade Deficit stg11.195bn vs stg10.387bn in Jul

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The trade deficit widened by stg0.702bn to stg1.274bn between July 

and August, with a 2.4% m/m rise in total imports offsetting a 1.1% m/m 

rise in exports. In the 3m to Aug, the total trade balance narrowed by 

stg4.7bn to -stg2.838bn, thanks to a stg3.5bn narrowing of the goods 

deficit and a stg1.1bn widening of the services surplus. The former was 

driven by falling imports of 'unspecified goods' (mostly non-monetary 

gold) and higher fuel exports. According to an ONS official, there was 

no evidence of stockpiling of either food or chemical medicines in 

August. While the latter did spike higher in August, this was consistent 

with previous years and so could not be isolated specificially to 

Brexit.