Describing today’s trade figures from the ONS, David Slater, Director of Trade at KPMG UK said
“Steady, albeit modest, growth in the UK economy does not reflect the increasing uncertainty associated with Brexit: the last 12 months has seen the trade deficit narrow – driven mostly by our world class services sector. Exports of services continue to outpace imports, and whilst exports of goods are also rising they are not doing so as quickly as imports. This is unlikely to change in the short term.
“Given the UK’s relative strength and competitive position in services, and the role services play to enable trade and underpin manufacturing, it is increasingly important that the needs of the sector are taken into account during negotiations with the EU.“
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