UK visible trade for February showed a -£7.315 bln deficit, better than the median forecast of -£7.600 bln. The deficit for January was revised a little, to -£7.821 bln from -£7.745 bln.
The big surprise though was in non-EU trade which came in at -£3.964 bln, much better than the median forecast of -£5.500 bln. The improvement came as exports rose 12.8% and imports fell 5.4%, a sign that sterling weakness might finally be having a demonstrable effect.
