Latest data released by ONS - 10 December 2019

  • Prior -£12.5 billion; revised to -£11.5 billion
  • Non-EU trade balance -£5.2 billion vs -£3.5 billion expected
  • Prior -£4.0 billion; revised to -£1.9 billion

The trade deficit widens in October on the back of heavy Brexit stockpiling as imports rose 8.3% on the month while exports improved by 1.8% on the month.

That is hardly a comforting fact as it goes to show that Brexit uncertainty is continuing to weigh on the UK economy in all sorts of different ways. And in this case, it continues to allude to the bullwhip effect as highlighted here earlier in the year.