British current account deficit still near record levels
Brexit vote has heightened balance of payments concerns
As Brexit threatens to blast the British economy, few things seem more exposed than the balance of payments.
The current account deficit – the difference between money coming into Britain and money sent out – stood at at higher-than-predicted £32.6 billion in the first quarter, or 6.9 per cent of economic output, the Office for National Statistics said this morning. That is just below a record 7.2 per cent in the fourth quarter of 2015.
Separately, the ONS...
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