Investing.com – The euro zone current account deficit widened unexpectedly in November, official data showed on Wednesday.
In a report, the European Central Bank said that the euro zone current account recorded a seasonally adjusted deficit of EUR11.2 billion in November, after recording a deficit of EUR9.6 billion in October, whose figure was revised down from a deficit of EUR9.8 billion.
Economists had expected the current account deficit to narrow to EUR9.3 billion in November.
The report said that the 12-month cumulated seasonally adjusted current account recorded a deficit of EUR44.4 billion in November, approximately 0.5% of euro area gross domestic product, compared with a deficit of EUR62.4 billion a year earlier.
Following the release of the data, the euro was up against the U.S. dollar, with EUR/USD climbing 0.45% to hit 1.3448.
Meanwhile, European stock markets were down. The EURO STOXX 50 shed 0.14%, France’s CAC 40 declined 0.13%, Germany's DAX was down 0.02%, while the FTSE 100 fell 0.11%.
In a report, the European Central Bank said that the euro zone current account recorded a seasonally adjusted deficit of EUR11.2 billion in November, after recording a deficit of EUR9.6 billion in October, whose figure was revised down from a deficit of EUR9.8 billion.
Economists had expected the current account deficit to narrow to EUR9.3 billion in November.
The report said that the 12-month cumulated seasonally adjusted current account recorded a deficit of EUR44.4 billion in November, approximately 0.5% of euro area gross domestic product, compared with a deficit of EUR62.4 billion a year earlier.
Following the release of the data, the euro was up against the U.S. dollar, with EUR/USD climbing 0.45% to hit 1.3448.
Meanwhile, European stock markets were down. The EURO STOXX 50 shed 0.14%, France’s CAC 40 declined 0.13%, Germany's DAX was down 0.02%, while the FTSE 100 fell 0.11%.