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UK public sector borrowing rises in September YOY

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UK public sector borrowing rises in September YOY

Net borrowing in the U.K. public sector, excluding public sector banks, reached £9.4 billion in September, up £600 million year over year, marking the first annual September hike in five years, the Office for National Statistics said.

The Econoday consensus estimate was for borrowing to hit £9.5 billion in September.

Central government receipts rose 6.9% year over year to £61.2 billion in September. Total central government expenditure climbed 6.8% to £67.6 billion.

Borrowing from the start of the financial year in April through September was £40.3 billion, a £7.2 billion hike from the same period last year.

Public sector net debt, excluding public sector banks, increased £27.3 billion year over year to £1.791 trillion.