UK PSNB, PSNCR Increase In November

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UK's public sector net borrowing increased GBP 4.9 billion from the prior year to GBP 20.3 billion in November, data from the Office for National Statistics showed Friday. However, the November borrowing stood below the expected GBP 23 billion.

At the same time, the public sector net cash requirement was GBP 14.7 billion, a GBP 4 billion higher net cash requirement than in November 2008. Economists were expecting a requirement of GBP 17.3 billion. Further, the public sector current budget was in deficit by GBP 16.2 billion versus a shortfall of GBP 13.2 billion last year.

The ONS said public sector net debt was GBP 844.5 billion at the end of November 2009, equivalent to 60.2% of GDP. That compared to last year's GBP 706.2 billion.

UK's public sector net borrowing increased GBP 4.9 billion from the prior year to GBP 20.3 billion in November, data from the Office for National Statistics showed Friday. (Market News Provided by RTTNews)