United Kingdom

    The U.K.‘s budget deficit shrank at a faster-than-expected pace in July; retail sales posted the biggest gain in five months. The British government’s net borrowing declined decreased to 3.17 billion pounds (USD5 billion) in July from 5.52 billion pounds a year ago. Retail sales, meanwhile, rose 1.1 percent in July from the previous month’s level, boosted by sales of sporting equipment, toys and jewelry, the New York Times reports.

    About the author

    • Ma. Rizza Leonzon

      As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.