•The United Kingdom’s (UK) current account deficit was £14.0 billion in the fourth quarter of 2012, down from a revised deficit of £15.1 billion in the previous quarter. The deficit in the fourth quarter equated to 3.6% of GDP at current market prices, down from 3.9% in the previous quarter. •The trade deficit widened to £9.6 billion in the fourth quarter of 2012, from £8.1 billion in the previous quarter. •The income balance switched to a surplus of £2.1 billion, from a deficit of £1.4 billion in the third quarter of 2012. •The financial account recorded net inward investment of £19.2 billion during the fourth ... (full story)