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Euro zone current account surplus narrows to €18.1 billion

Published 01/19/2015, 04:09 AM
Updated 01/19/2015, 04:09 AM
© Reuters. Euro zone current account surplus narrows unexpectedly in November

Investing.com - The euro zone’s current account surplus narrowed more than expected in November, official data showed on Monday.

In a report, the European Central Bank said that the euro zone current account recorded a seasonally adjusted surplus of €18.1 billion in November, narrowing from a surplus of €19.5 billion in October.

Economists had expected the region’s current account surplus to widen to €21.3 billion in November.

The seasonally adjusted 12-month cumulated current account for the period ending in November recorded a surplus of €241.6 billion, 2.4% of euro area GDP, compared with one of €211.4 billion, 2.1% of euro area GDP for the previous 12-month period.

EUR/USD was trading at 1.1588 from around 1.1584 ahead of the release of the data, while EUR/GBP was at 0.7648 from 0.7644 earlier.

Meanwhile, European stock markets remained higher. The EURO STOXX 50 tacked on 0.2%, France’s CAC 40 advanced 0.1%, Germany's DAX inched up 0.6%, while London’s FTSE 100 rose 0.4%.

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