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UK May Public Sector Borrowing Exceeds Expectations

UK net borrowing decreased in May, but was more than economists' had expected, figures from the Office for National Statistics showed on Friday.

The public sector net borrowing, or PSNB, excluding banks fell to GBP 5.1 billion from GBP 6.8 billion in April. Economists had forecast GBP 4.2 billion borrowing.

Overall net borrowing was GBP 4.4 billion after GBP 6.1 billion in April. Economists had expected GBP 3.2 billion borrowing.

The public sector net cash requirement, or PSNCR, was GBP 10.66 billion versus a surplus of GBP 6.323 billion in April. In May 2018, the PSNCR was GBP 6.715 billion.

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