The total UK trade  deficit narrowed by £2.1 billion to £6.2 billion in the three months to November 2017 according to figures released today by the Office for National Statistics.

The narrowing was a result of increases in exports including works of art and cars, and a £0.9 billion widening of the trade in services surplus due to increases in exports says the ONS while the trade in goods deficit was due to a 5.3% (£2.3 billion) increase in exports to non-EU countries, partially offset by increases in imports, in the three months to November 2017.

Meanwhile the UK median disposable household income was £27,300 in the financial year ending (FYE) 2017, up 2.3% on the previous year, after accounting for inflation and household composition. says the agency.

The latest estimate of UK median disposable household income is very similar to the nowcast estimate of £27,200 for FYE 2017, published in July 2017.

The ONS says growthin median disposable income for the richest fifth of households has lagged behind households in the rest of the income distribution in recent years, but has now recovered to the levels seen before the start of the economic downturn, taking into account inflation and changes in household composition adding that there has been a small decline in income inequality in the last 10 years .

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