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Immense pressure is building in the UK economy. Either there will be a recession triggered by an interest rate rise or another serious dive of the Sterling.

The Independent | UK trade deficit at record high after pound slump fails to help export performance

The UK racked up a record trade in goods deficit in August, confirming the failure for the slump in sterling to help improve the UK's trade balance.

The Office for National Statistics reported that the UK exported £28.1bn of goods in the month and imported £42.4bn, leaving a deficit of £14.2, the highest on record.

Imports of chemicals, machinery and textiles all jumped, according to the ONS.

Over the three months to August exports fell 2.7 per cent while imports rose 3.9 per cent.



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by Luis de Sousa (luis[dot]a[dot]de[dot]sousa[at]gmail[dot]com) on Wed Oct 11th, 2017 at 09:10:09 AM EST
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Imports are getting more expensive. Because of a cheaper sterling. It's all the Eurocrats' fault, as usual.
by Bernard on Wed Oct 11th, 2017 at 06:21:00 PM EST
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the tories have got no idea how to boost the productive economy cos they've spent 40 years destroying it so that their mates in the City can loot and plunder tax free.

Now they have to earn their corn honestly and the very idea is beyond their grasp.

keep to the Fen Causeway

by Helen (lareinagal at yahoo dot co dot uk) on Wed Oct 11th, 2017 at 08:33:05 PM EST
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