UK External Deficit Increases Further-Savings Fall

As a follow-up on this post, it could be noted that new numbers show that UK net borrowing from abroad rose further in the fourth quarter, to a new annual record of £71.1 billion, up from £60 billion in 2012 and just £22.4 billion in 2011.

In a related trend, the household savings rate fell to a new low of 5.1% in 2013, down from 7.3% in 2012.

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