George Osborne Faces More Economic Headwinds

Thursday 31 March, 2016 Written by 
Container Transport

ECONOMIC headwinds are making it hard going in the economy. 

The eurozone is expected to have been in deflation during March, with headline prices falling 0.1 percent on the year earlier. German unemployment is likely to have ticked up a notch in March, from 6.2 percent to 6.3 percent, while the final reading of GDP in the U.K. is expected to be revised downwards from 2.1 percent to 1.9 percent on the year earlier.

Meanwhile in the UK 

The UK's current account deficit widened to a record high in the final quarter of last year.

The deficit in the three months to December was £32.7bn, the equivalent of 7% of GDP, said the Office for National Statistics (ONS).

For all of 2015, it came to £96.2bn or 5.2% of GDP. Both figures were the highest since records began in 1948.

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