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The U.K. continued to run a very large trade deficit in Q3, largely due to the surge in natural gas prices.
The evidence that Brexit is disrupting U.K. trade, meanwhile, is mounting, particularly in the services data.
These two factors mean the trade deficit is on course to be the largest since the 70s this year.
brexit, deficit, natural gas, trade, trade deficit, Pantheon Macro, Pantheon Macroeconomics, independent macro research, independent research, ian shepherdson, economic intelligence