UK trade performance falls to worst level on record in first quarter

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He echoed the former Bank of England governor, Mark Carney, who warned repeatedly after the Brexit referendum that the value of the pound depended on the “kindness of strangers”.

Samuel Tombs, chief UK economist at Pantheon Macroeconomics, identified “a surge in energy prices” as the primary cause of the UK’s difficulties.

The pound, which was stable in currency markets on Thursday morning, has lost more than 10 per cent of its value against the US dollar over the past year, while remaining broadly stable against the euro.

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Author / Journalist: Chris Giles

Category: MarketsFinanceInvesting

Topics: Current First Imports Cent Deficit Figures Exports Account Data 2022

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-30, 09:59:15

News Timezone: GMT -5:00

News Source URL: ft.com

Language: English

Reading Time: 4 minutes read

Article Length: 604 words

Coverage Area: United States

Availability: Desktop Web, Mobile Web

News ID: 22527

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