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Government hopes that economic recovery will be spearheaded by manufacturing and exports took a dent today as official figures showed the UK running a record trade deficit in the three months to September.

Data from the Office for National Statistics revealed that the gap between exports and imports in the third quarter widened to more than £14bn – despite the boost provided by a weak pound.

The ONS said the trade gap in goods alone edged above £25bn for the first time between July and September, but was offset by a healthy surplus in trade in services.

In September, the ONS recorded a slight improvement in the UK's trade performance. Imports into Britain of £30.6bn topped exports of £22.4bn by £8.2bn, slightly below the £8.5bn shortfall recorded for August. A £3.6bn surplus in services meant the overall trade gap narrowed from £4.9bn to £4.6bn.

Separate ONS figures showed that the output of UK factories rose by 0.1% in September – slightly below City expectations and the weakest performance since April.

If we weren't having an export recovery just think how bad this gap would have been. The cheap pound is helping to keep out exports up to keep down increase in the balance of trade to a bare minimum.

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but... but... but...


The UK's trade deficit narrowed slightly in September, according to the Office for National Statistics (ONS).

The UK's deficit on trade in goods and services was £4.6bn, compared with a deficit of £4.9bn in August. The trade gap shrank to £8.23bn from £8.47bn.

It was the second monthly improvement since the deficit hit a five-year high in July

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The trade gap gets bigger and bigger each month just like the debt pile, yet all the government does is sit there and stare at the figures in the hope they'll get better.

It's the hopes and prayers recovery...

Still no doubt Merv will be wheeled back out to help spur on our export industry with another round of funny money.

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  • 416 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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