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Services take the largest share in the UK's economy and its exports. That is why the widening trade deficit is a bit of a puzzle. Services are not tied to supply chains, in principle there is no need to increase expenses and pass costs on the the client in face of currency devaluation.

Since it is exactly the opposite happening, I wonder if the Services sector has already tied its costs (mostly wages) to other currencies.

You might find me At The Edge Of Time.

by Luis de Sousa (luis[dot]a[dot]de[dot]sousa[at]gmail[dot]com) on Tue Aug 22nd, 2017 at 03:15:41 PM EST
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