Euro zone current account surplus dips in April
Reuters
Published Jun 20, 2017 09:21
Euro zone current account surplus dips in April
FRANKFURT (Reuters) - The euro zone's current account surplus dipped in April as imports into the 19-member currency bloc increased and the services surplus eased, European Central Bank data showed on Tuesday.
The working-day and seasonally adjusted surplus narrowed to 22.2 billion euros ($24.8 billion) from 35.7 billion euros a month earlier. The rolling 12-month surplus eased to 3.2 percent of the bloc's GDP from 3.4 percent a year earlier. The unadjusted surplus dropped to 21.5 billion euros from 46.4 billion.
The ECB earlier said it expected the current account surplus to decline somewhat this year, partly on higher commodity - especially oil - prices. The bank expects a drop to 2.8 percent of GDP from 3.4 percent, and for the reading to hover around the lower level for some years.
For more detail on current account data, please click on: https://www.ecb.europa.eu/press/pr/stats/bop/2017/html/ecb.bp170620.en.html
($1 = 0.8963 euros)
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Written By: Reuters
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