UK Public Sector Net Borrowing Up - MI211223

December 21, 2023
UK Public Sector Net Borrowing Up - MI211223

The UK Government borrowed £14.3 billion in November.

This was £1.3 billion higher than expected.

The reason was cited as the extra help provided with the publics energy bills by the Government.

The has continued the short term down trend for Pound rates where it's been a tough 24 hours against both the Euro and the Dollar.

GBP/USD is the pairing most under the spotlight today with US GDP numbers out just after lunch. Analysts are expecting annualised quarter 3 growth of 5.2%.

The biggest scheduled news for the Pound happens with a raft of data at breakfast time tomorrow.

UK GDP and retail figures are being reported. For GDP it's expected the quarterly figure is for a flat 0% result. That's completely tight to the wire between growth and contraction so will be closely watched. Novembers monthly retail sales figures are expected to report 0.4% growth.

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Economic calendar

US: 13:30 GDP Figure

UK: Friday 07:00 GDP Figures

UK: Friday 07:00 Retail Sales

As ever we look forward to keeping you in the loop and look out for our next update.
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