Euro area current account recorded a surplus of €25.5 billion

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Thursday, Feb 18 2016

The current account of the euro area recorded a surplus of €25.5 billion in December 2015. This reflected surpluses for goods (€26.5 billion), services (€4.6 billion) and primary income (€5.5 billion), which were partly offset by a deficit in secondary income (€11.2 billion). According to the preliminary results for 2015 as a whole, the current account recorded a surplus of €314.0 billion (3.0% of euro area GDP), compared with one of €245.6 billion (2.4% of euro area GDP) in 2014.

The increase in the current account surplus was largely due to an increase in the surplus for goods (from €251.5 billion to €320.1 billion) and, to a lesser extent, to a decrease in the deficit for secondary income (from €138.6 billion to €133.1 billion) and an increase in the surplus for primary income (from €61.9 billion to €64.4 billion). These were partly offset by a decrease in the surplus for services (from €70.8 billion to €62.6 billion).

Euro is currently being traded few points above 1.1130 level. Pair is likely to find support around 1.1080 handle and resistance above 1.12 level. Later today, in the US session, Unemployment Claims and Philly Fed Manufacturing Index figures are scheduled for a release.

More in this category: « China's CPI picked up led by food costs Unemployment Claims decreased to 269,000 »

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