Investing.com – The euro zone current account deficit widened unexpectedly in September, official data showed on Thursday.
In a report, the European Central Bank said that the euro zone current account recorded a seasonally adjusted deficit of EUR 13.1 billion in September, after recording a deficit of EUR 6.9 billion in August, whose figure was revised down from EUR 7.5 billion.
Economists had expected the current account deficit to narrow to EUR 2.2 billion in September.
The report said that the 12-month cumulated seasonally adjusted current account recorded a deficit of EUR 46.3 billion in September, approximately 0.5% of euro area gross domestic product, compared with a deficit of EUR 91.0 billion a year earlier.
Following the release of the data, the euro was up against the U.S. dollar, with EUR/USD climbing 0.83% to hit 1.3642.
Meanwhile, European stock markets posted sharp gains. The EURO STOXX 50 climbed 1.35%, France’s CAC 40 jumped 1.36%, Germany's DAX was up 1.34%, while the FTSE 100 added 0.96%.
In a report, the European Central Bank said that the euro zone current account recorded a seasonally adjusted deficit of EUR 13.1 billion in September, after recording a deficit of EUR 6.9 billion in August, whose figure was revised down from EUR 7.5 billion.
Economists had expected the current account deficit to narrow to EUR 2.2 billion in September.
The report said that the 12-month cumulated seasonally adjusted current account recorded a deficit of EUR 46.3 billion in September, approximately 0.5% of euro area gross domestic product, compared with a deficit of EUR 91.0 billion a year earlier.
Following the release of the data, the euro was up against the U.S. dollar, with EUR/USD climbing 0.83% to hit 1.3642.
Meanwhile, European stock markets posted sharp gains. The EURO STOXX 50 climbed 1.35%, France’s CAC 40 jumped 1.36%, Germany's DAX was up 1.34%, while the FTSE 100 added 0.96%.