How crucial is the current account deficit?

March 31, 2015 1:44 PM

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The Office of National Statistics (ONS) released two important sets of data today. The headlines have been grabbed by the better-than-expected GDP numbers and I have no doubt that growth will feature heavily in the political battle of the next few weeks.

Today's other major statistical release will get less attention in the next few days but may be just as important. Last year the UK's current account deficit was 5.5% of GDP, the largest annual deficit since the modern records began in 1948.

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