Investing.com – The euro zone current account deficit widened unexpectedly in June, 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 EUR7.4 billion in June, after recording a deficit of EUR5.6 billion in May, whose figure was revised from a deficit of EUR5.2 billion.
Economists had expected the current account deficit to narrow to EUR3.6 billion.
The report said that the 12-month cumulated seasonally adjusted current account recorded a deficit of EUR59.9 billion in June, approximately 0.6% of euro area gross domestic product, compared with a deficit of EUR15.7 billion a year earlier.
Following the release of the data, the euro was down against the U.S. dollar, with EUR/USD shedding 0.04% to trade at 1.4401.
Meanwhile, European stock markets were mixed. The EURO STOXX 50 slumped 0.3%, France’s CAC 40 rose 0.4%, Germany's DAX fell 0.5%, while the FTSE 100 retreated 0.65%.
In a report, the European Central Bank said that the euro zone current account recorded a seasonally adjusted deficit of EUR7.4 billion in June, after recording a deficit of EUR5.6 billion in May, whose figure was revised from a deficit of EUR5.2 billion.
Economists had expected the current account deficit to narrow to EUR3.6 billion.
The report said that the 12-month cumulated seasonally adjusted current account recorded a deficit of EUR59.9 billion in June, approximately 0.6% of euro area gross domestic product, compared with a deficit of EUR15.7 billion a year earlier.
Following the release of the data, the euro was down against the U.S. dollar, with EUR/USD shedding 0.04% to trade at 1.4401.
Meanwhile, European stock markets were mixed. The EURO STOXX 50 slumped 0.3%, France’s CAC 40 rose 0.4%, Germany's DAX fell 0.5%, while the FTSE 100 retreated 0.65%.