In a not-so-surprising turn of events, the morning’s release of public sector net borrowing out of Great Britain revealed a slow down in the level of spending at the governmental level. Publically owned corporations and national, as well as local, governments spent 2 billion pounds less than they earned in revenue.
The report, issued by the Office of National Statistics, highlights the austerity attempts by the British government to control runaway spending and reduce the nation’s deficits. The 2 billion pound monthly surplus is a step in the right direction for such an initiative and it will be interesting to see where these funds go over the next few months.
Read more forex trading news on our forex blog.
