U.K. trade deficit likely to have narrowed in September

The trade deficit in the U.K. is expected to have narrowed in the month of September. The deficit oscillates broadly from month to month due to huge movements in the trade in goods balance, noted Societe Generale. The balance on services side is usually quite stable because it is only a first guess from the ONS as most of the data only becomes available with a considerable lag.

The goods balance is expected to move back towards the recent trend that led to a projection of a total deficit on goods and services of GBP 3.8 billion in September following a deficit of GBP 4.7 billion in August, added Societe Generale.