NEW
First month in new post Brexit trading arrangements sees UK exports to EU down 40.7% and imports down 28.8%: official ONS figures....
Some shifted in to Dec stockpiling, & lockdown a factor
GDP also fell 2.9% in Jan, much less than first lockdowns
ons.gov.uk/economy/nation…
First month in new post Brexit trading arrangements sees UK exports to EU down 40.7% and imports down 28.8%: official ONS figures....
Some shifted in to Dec stockpiling, & lockdown a factor
GDP also fell 2.9% in Jan, much less than first lockdowns
ons.gov.uk/economy/nation…
Monthly figures can be erratic, and the Govt argued yesterday that some of this has normalised in port lorry flow data on February, but even taking all that into account that is still a significant fall. Important to see trend now over next few months.
ONS: “External evidence suggests some of the slower trade for goods in early January 2021 could be attributable to disruption caused by the end of the transition period. In addition, we also need to consider the stronger November and December stockpiling trade figures”
Government in form of Lord Frost responds, says “unusual figures” in January were “inevitable”:
https://twitter.com/DavidGHFrost/status/1370323826677014528
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