Details of UK public sector borrowing data report for May 2015
- Prior 6.038bn. Revised 5.459bn
- PSNB ex-finance 10.129bn vs 10.80bn exp m/m. Prior 6.816bn. Revised to 6.238bn
- PSNCR +12.383bn vs -4.044bn prior m/m. Revised to -2.731bn
- Central government NCR +13.2bnbn vs -1.2bn prior. Revised to 0.2bn
Lowest May borrowing (ex-banks) in 8 years as stronger tax receipts work their way in. It's the strongest May for receipts for 4 years. Borrowing has fallen 5.1bn in the financial year to date. Overall public sector net debt has continued to clomb and stands at 1.5tn or 80.8% of GDP
The Chancellor will love these numbers while ignoring the deficit. Tax receipts rising are good news though and should continue with wage rises naturally
GBPUSD went mildly bid to 1.5869 from 1.5855
UK PSNB e-financials
