Current account deficit hits record high as GDP revised higher

Deficit balloons to widest since 1948, raising fears for UK recovery and its future after possible Brexit

Britain's trading position with the rest of the world has deteriorated sharply with the current account deficit swelling to its widest on record, fanning fears about the sustainability of the economic recovery.

News of the ballooning current account shortfall overshadowed figures showing economic growth was stronger than first thought in the fourth quarter. GDP rose 0.6% compared with an earlier estimate of 0.5% and 0.4% growth the previous quarter, according to the Office for National Statistics (ONS).

Related: A vulnerable economy: the true cost of Britain's current account deficit

0.4% rise in #GDP per head in Q4 https://t.co/WY6tH74lax