Great Britain’s Payments Deficit Falls: Great Britain’s...

Great Britain’s Payments Deficit Falls: Great Britain’s balance of payments deficit fell to $2 billion (1.32 billion pounds sterling) in May from $2.57 billion (1.66 billion pounds) in April, easing pressure on the government to increase interest rates. The Department of Trade and Industry said the trade deficit in May was offset by a surplus on “invisible” items such as insurance and banking. The figures were significantly better than expected.