UK trade data also out now but not going to have any immediate real impact

Definitely one to fit into the bigger UK picture though, especially re impact of GBP value on exports/imports

  • GBP -10.786bln prev revised up from £-11.149bln
  • non-EU trade balance GBP -2.076bln vs -£3.1bln exp vs -£3.842 bln revised down from -£3.765
  • trade balance £-1.353bln vs £-3bln exp vd -2.9bln prev revised up from £-3.3bln

Improving trend for the moment but still a long long way to go

GBPUSD barely changed but still on the back foot around 1.5160 after UK industrial production data came in below expectations

Says the ONS:

  • The UK's deficit on trade in goods and services was estimated to have been £1.4 billion in September 2015, a narrowing of £1.6 billion from August 2015. The narrowing is attributed to trade in goods, where the deficit decreased from £10.8 billion in August 2015 to £9.4 billion in September 2015.

  • Exports of goods increased by £0.6 billion to £24.0 billion in September 2015, this was attributed to an increase in chemicals of £0.6 billion. Imports of goods decreased by £0.9 billion to £33.3 billion over the same period, this was attributed to a decrease in unspecified goods of £1.0 billion.

  • Despite the narrowing of the deficit on the month of September 2015, in quarter 3 (July to September) 2015, the UK's deficit on trade in goods and services was estimated to have been £8.5 billion; widening by £5.1 billion when compared with quarter 2 (April to June) 2015.

  • Between quarter 2 (April to June) 2015 and quarter 3 (July to September) 2015, the trade in goods deficit widened by £5.9 billion to £32.2 billion. The widening was as a result of a £6.0 billion decrease in exports to £70.1 billion, there were falls in exports of oil (£1.3 billion), chemicals (£1.1 billion) and finished manufactures (£1.7 billion). Over the same period imports decreased by £0.1 billion to £102.3 billion.

  • Between quarter 2 (April to June) 2015 and quarter 3 (July to September) 2015, the trade in services surplus widened by £0.8 billion to £23.6 billion, as imports fell 2.4%.

Full ONS release here