The current account deficit — the gap between money flowing into and out of the country — for 2015 and the first half of 2016, was 10 billion pounds ($12 billion) smaller than originally estimated.
According to the new calculations, it is 6.7 billion pounds smaller than estimated for 2015, and 3.3 billion pounds smaller for the first half of this year. The revision means the deficit for the second quarter of this year was 5.4 percent, not 5.9 percent as previously believed. Fully updated figures will be published by the ONS on December 23. Reportedly, the ONS said its headline estimates of GDP were not affected.
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