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UK Current Account - NOT just the Balance of Trade!
Penny Brooks
17th March 2015
Beware, in looking at the most recent current account data, of the changes that lie beneath the surface. For in spite of the fact that the trade deficit narrowed to £9.0 billion in Quarter 3 2014, from £9.2 billion in Quarter 2, the current account balance actually widened mainly due to a much greater increase in the deficit on the net investment income (primary income) account from £8.2 billion in Quarter 2 to £12.6 billion in Quarter 3.
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