The Pound stuttered slightly on Friday as the latest trade data from the Office for National Statistics showed that the deficit more than doubled during July. The British Trade Balance sunk to its lowest level since October 2012, at -£3.085 billion. The disappointing result was largely influenced by a pronounced drop in exports of UK goods and services to countries outside of the EU. Whilst reflecting a decidedly average outlook for world growth, the figures also bode badly for the UK's ambition to export its way to economic revival. Additionally, it was reported that Industrial Production in Britain stalled during July at 0.0%. Later in the afternoon Sterling was given a slight boost as the National Institute of Economic and Social Research predicted that UK GDP expanded by a whopping 0.9% in the three months to August.....
