"Exports are growing more quickly than imports, and it is reassuring that the economy is gradually rebalancing"
- David Kern, chief economist at the British Chambers of Commerce
U.K. trade deficit widened less than expected - to 7.5 billion pounds in January from 7.2 billion pounds in December, said the Office for National Statistics on Tuesday.
"Taking monthly fluctuations into account, the figures confirm a steady improvement in Britain's trading position, although progress is not as strong as it should be," said David Kern, chief economist at the British Chambers of Commerce.
"Exports are growing more quickly than imports, and it is reassuring that the economy is gradually rebalancing."
"These figures support our belief that the economy returned to positive growth in the first quarter of the year, and a new recession will be avoided."
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