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.
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