[B]The trade deficit in the U.K. widened more than expected in January as demands for exports plunged 4.0% during the month. The visible deficit widened to GBP 7.745B from a revised reading of GBP 7.232B in December, while the trade gap outside of the European Union surged to GBP 5.704B from GBP 4.340B, which is the largest deficit since record keeping began in 1697. Deteriorating fundamentals paired with weakening trade conditions continues to foreshadow the dire state of the global economy, and conditions are likely to get worse as the International Monetary Fund forecasts expects Europe’s second largest economy to face its worst economic downturn since World War II. [/B]