UK trade data released on Friday by the Office for National Statistics (ONS) showed a narrowing deficit in January, following an upward revision to December figures. The UK trade deficit in goods and services dropped to 3.5 billion Pounds in January, more than the forecasts of 3 billion, but less than the 3.7 billion in December. Exports in the UK remained unchanged for two months, while imports fell by 0.2 billion GBP in the same period. Fuel prices were the main driver for pushing imports lower. UK's exports to the EU increased for the month with trade with Germany and France ranking high. While there was speculation that the weaker exchange rate helped in boosting trade exports, ONS analysts said that there was no concrete evidence of this. Besides the trade data, UK construction output showed a decline, driven by weaker infrastructure and public housing projects. Between December and January, the UK's construction output fell -0.20% while production also declined compared to the previous month. The British Pound continued to trade stronger on Friday trading near $1.43.
China Industrial & Retail Growth Slows
Daily Analysis - 14/03/2016