The UK budget deficit narrowed in July to the lowest level for the month in three years, the Office for National Statistics said Thursday.
Public sector net borrowing decreased to GBP 1.1 billion from GBP 3.4 billion in the previous year.
Borrowing was below the GBP 2.1 billion shortfall projected by the Office for Budget Responsibility and also reached the lowest July borrowing for three years.
In the financial year to July, borrowing increased by GBP 6.7 billion from the same period last year to GBP 60.0 billion, which was the third-highest April to July borrowing on record.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.