British exports fell 1.0 percent  in July. This was announced by the British official statistics office on Friday. Imports also fell by 0.3 percent. The trade deficit for the three months to July was GBP 4.9 billion, an increase of GBP 1.5 billion over the three months to June.

Meanwhile, the industrial production in the United Kingdom increased more than expected in July. British industry produced 1.2 percent more on a monthly basis. Economists expected a limited increase of 0.3 percent. Production was 2.1 percent lower in July compared to February 2020, the last month before the coronavirus crisis.