Economic Buzz: UK Posts Lowest April Net Borrowing Since 2008

UK public sector net borrowing, excluding public sector banks, decreased GBP 1.6 billion to GBP 7.8 billion in April, the Office for National Statistics reported Tuesday. This was the lowest April net borrowing since 2008. The expected level was GBP 8.5 billion. At the end of April, public sector net debt totaled GBP 1.77 billion or equivalent to 85.1 percent of gross domestic product. At the end of March 2018, public sector net debt, excluding public sector banks, was revised to 85.4 percent of GDP from 86.3 percent.