's monthly trade deficit widened to a record in September, following a rise in imports of consumer goods, according to official figures. UK
The Office for National Statistics (ONS) said the goods trade deficit reached £7.754bn in September, marking a rise on £6.948bn in August.
The trade gap with non-EU nations also hit a record at £4.711bn from £3.953bn.
Analysts say the deficit, though wider than expected, is unlikely to have a significant impact on monetary policy.
Imports of consumer goods went up, especially cars. In addition,
imported more oil from Britain . Norway
George Buckley, an analyst with Deutsche Bank said: "The rise in import volume growth at a time when export volume growth is falling is a concern.
"The question is what happens going forward. If domestic consumption weakens quicker than world trade, then we could see this balance improve."
The increase in the value of the pound against the dollar has made it more expensive for people abroad to buy British goods.
♠ Posted by Emmanuel in Europe at 11/09/2007 02:38:00 PMI caught this news on the train coming home that the UK has just had its widest monthly trade deficit ever in September as the soaring pound made imports cheaper and exports dearer as Economics 101 would suggest. It's a changing world we live in when the US is starting to narrow its trade imbalance helped along by a degraded dollar while the UK is living large. From "Auntie" (what we call the BBC here in Blighty):