Thursday, May 13, 2010
Exports down even with record low exchange rates
They managed to get some "weather spin" in there, which is always good.. "The UK's trade deficit with the rest of the world widened sharply in March, according to the Office for National Statistics (ONS). The gap rose to Â£3.7bn ($5.5bn) in March from Â£2.2bn in February ($3bn). The ONS said the swings in the gap had been exacerbated by January's bad weather. That delayed the export of some goods until February, which helped to flatter that month's figure. Even so, the gap was also worse than in March last year. The figures show the UK is struggling to export goods, despite a weaker pound. On Wednesday, the Bank of England governor, Mervyn King, said the UK's economy should shift its weight towards exports, rather than relying on domestic consumption. "