Wider trade deficit weighs on FTSE
The FTSE 100 share index has declined in worth marginally this afternoon (August 9th) as investors react to the news that the UK's trade deficit has widened further.
As of 13:17 BST, London's leading stock exchange was down at a level of 5,841 points following the release of new government figures concerning the country's trading activity.
According to data published by the Office for National Statistics this morning, the nation's shortfall on goods and services increased to £4.3 billion in June, which represents a marked climb on the figure of £2.7 billion recorded one month previously.
Overall, trade in this arena fell to a deficit of £11.2 billion during the second quarter of the year as the fact the nation experienced economic contraction of 0.7 per cent in this three-month period continues to influence trade.
Chris Williamson, economist at Markit, was quoted by the Guardian as saying there is "clearly an underlying trend of worrying weakness in overseas demand".
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