U.K. Public Sector Deficit Widens in March beyond Expectations

The United Kingdom released the public finance reports for March, where the public finances deficit widened beyond expectations to 16.5 billion pound from the revised previous surplus of 8.2 billion from 7.8 billion, missing estimates of 13.0 billion of deficit.

Moreover, the public sector net borrowing surged to 15.9 billion pound from the revised previous of 9.9 billion from 12.9 billion, worse than the expected deficit of 14.2 billion.

The public sector net borrowing excluding interventions also surged in March to 18.2 billion from the revised previous of 12.2 billion from 15.2 billion, worse than the expected deficit of 16.0 billion.