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Eurozone Current Account surplus narrowed to €25.3 billion

Friday, Nov 18 2016
Eurozone Current Account surplus narrowed to €25.3 billion

The current account of the euro area recorded a surplus of €25.3 billion in September 2016. This reflected surpluses for goods (€30.3 billion), services (€4.8 billion) and primary income (€4.2 billion), which were partly offset by a deficit for secondary income (€14.0 billion). The 12-month cumulated current account for the period ending in September 2016 recorded a surplus of €337.5 billion (3.2% of euro area GDP), compared with one of €322.5 billion (3.1% of euro area GDP) for the 12 months to September 2015.

This was mostly due to an increase in the surplus for goods (from €333.4 billion to €368.1 billion), as well as a decrease in the deficit for secondary income (from €131.2 billion to €128.4 billion). These were partly offset by decreases in the surpluses for services (from €62.8 billion to €56.9 billion) and primary income (from €57.5 billion to €41.0 billion).

 

Euro is curently being traded around 1.0620 handle. Pair is likely to find support around 1.0550 area and resistance above 1.0660 level.

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