Latest data released by ONS - 9 September 2019
- Prior -£7.0 billion; revised to -£8.9 billion
- Non-EU trade balance -£1.9 billion vs -£3.0 billion expected
- Prior -£0.2 billion; revised to -£0.1 billion
Looking at the details, exports climbed by 3.5% m/m while imports also climbed by 3.3% m/m and that shows a solid rebound in trade conditions - especially in domestic demand. The question though is whether or not this is related to more Brexit stockpiling (like in Q1) and that will come back to bite at the UK economy further down the road (like in Q2).
