Car exports cut monthly UK trade deficit but quarterly gap is growing
by Phillip Inman Economics correspondent from on (#PZ9P)
A 500m rise in cars shipped abroad fails to ease prospects of huge deficit in third quarter fueled by strong pound plus eurozone woes and declining oil industry
A rise in car exports helped improve Britain's trade deficit in August, according to official figures.
The monthly shortfall in the trade balance for goods narrowed to 3.3bn from 4.4bn in July. However, the UK was still heading for a huge deficit in the third quarter of the year after an upward revision to July's shortfall.
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