Dubai – Mubasher: The UK suffered larger-than-expected trade deficit in August, while construction output fell at its fastest pace since 2002, data released by the UK Office for National Statistics (ONS) showed on Friday. 

The goods trade deficit printed at GBP 11.1 billion, compared with an upwardly revised GBP 12.2 billion in July. The markets were expecting the figure to print at GBP 9.9 billion. Meanwhile, construction output fell 4.3%. 

Exports rose 3.5% after having suffered a 9% drop in the prior month, while imports fell 0.7%. However, the total trade deficit narrowed in August to GBP 3.3 billion, compared to the forecast of GBP 2.2 billion.