UK Oct trade balance data just out 8 Dec

  • GBP - 10.453bln prev revised up from -11.253bln
  • trade bal non-EU gb[ -2.382bln vs -3.3bln exp vs -2.993bln prev rev down from -2.982bln
  • total trade bal GBP -1.405bln vs -3bln exp vs -1.141bln prev rev up from -2.754bln

Better data overall greets the pound a little in retreat again at 1.3472, 0.8712 and 152.98

Says the ONS:

  • Erratic commodities (including non-monetary gold) had a large impact on headline movements in the three months to October 2017; the total UK trade (goods and services) deficit excluding erratic commodities widened by £0.8 billion to £6.9 billion.

  • The trade in goods deficit with non-EU countries narrowed by £2.9 billion, while the deficit with EU countries widened by £1.2 billion in the three months to October 2017; excluding erratics, the deficit with EU countries widened by £1.9 billion due to a larger increase in imports.

  • Excluding oil and erratic commodities, imports and exports of goods increased by £2.8 billion and £1.7 billion respectively in the three months to October, which was due mainly to increases in import and export volumes, which grew at a faster rate than prices over the period.

Full report here