UK trade figures raise fresh GDP fears

Worse than expected UK trade deficit data for February suggests net trade will have been a drag on GDP growth in the first quarter, according to Capital Economics.

The trade gap widened to £3.4bn in February, according to the Office for National Statistics, above a consensus forecast of a £2bn gap, and up from a revised January deficit of £2.5bn. The goods trade deficit again more than offset the services surplus, unchanged at £5.4bn. The ONS said the goods trade deficit rose to £8.77bn in February, above economists' consensus forecast of a £7.7bn gap. January's deficit was revised up to £7.88bn. A £400m drop in the sales of cars to non-EU countries including the US, Russia and China drove the decrease in exports, the ONS said, with forecasters ...