• GBP-9.15 bln prev revised up from -9.2 bln
  • non-EU -3.84 bln vs -3.6 bln exp vs -4.08 bln prev revised down from -3.96 bln
  • exports fall 1.6%
  • imports fall 0.4%
  • total trade gap GBP -2.46 bln vs -2.36 bln in May

GBP proving resilient to another awful trade deficit reading at 1.6811 and EURGBP 0.7964

It should to the offers in any rally though

  • construction output m/m rises 1.2% vs May
  • +5.3% y/y
  • Q2 construction revised to unchanged from -0.5% but as no effect on total GDP

Giving a GBP little positive spin