UK trade deficit in Q1 widens to fresh record since 2008

London

BRITAIN'S trade deficit widened in the first quarter of 2016 to its biggest since the early days of the financial crisis, adding to signs that global weakness is weighing on the economy.

The shortfall in the first three months of the year widened to £13.273 billion (S$26.3 billion) from £12.205 billion in the last three months of 2015, its biggest for any calendar quarter since the first quarter of 2008, the Office for National Statistics said.