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U.K. Public Sector Borrowing Increases In March

4/24/2012 4:53 AM ET

The U.K.'s public sector net borrowing rose from a year-ago level in March, data from the Office for National Statistics showed Tuesday.

Public sector net borrowing (PSNB) excluding temporary effects of financial interventions, was GBP 18.2 billion in March, up from last year's GBP 17.95 billion.

This was also higher than GBP 12.2 billion in borrowing in February and above economists' forecast of GBP 16 billion.

Public sector net borrowing, including interventions, rose to GBP 15.9 billion from GBP 9.9 billion in the previous month. This was also higher than forecast of GBP 14.2 billion.

Excluding financial interventions, the public sector current budget deficit was GBP 11.1 billion in March.

Net debt, excluding interventions, was GBP 1022.5 billion, equivalent to 66 percent of GDP, the statistical office said.

by RTT Staff Writer

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