January 9, 2019 / 9:23 AM / 11 days ago

UK statistics agency corrects third-quarter current account deficit data

FILE PHOTO: A worker constructs a Bentley Continental GT on the prodution line at the luxury automaker's manufacturing facility in Crewe, Britain October 15, 2018. REUTERS/Darren Staples/File Photo

LONDON (Reuters) - Britain’s current account deficit was larger than previously stated at 5.0 percent in the third quarter of 2018 of gross domestic product, the Office for National Statistics said on Wednesday after discovering an error in previous calculations.

“A minor processing error has been identified and corrected in the current account balance as a percentage of GDP data. The error affected 2017 and 2018 quarters up to and including 2018 Q3,” the ONS said on its website.

The ONS said the error affected the current account expressed as a share of GDP, and not the underlying figures. It had previously said the third-quarter current account deficit was 4.9 percent of GDP, the highest in two years.

Reporting by David Milliken. Editing by Andrew MacAskill

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