Investing.com - The euro zone’s current account surplus narrowed unexpectedly in September, official data showed on Monday.
In a report, the European Central Bank said that the euro zone current account recorded a seasonally adjusted surplus of EUR13.7 billion in September, down from a surplus of EUR17.9 billion in August, whose figure was revised up from a previously reported surplus of EUR17.4 billion.
Economists had expected the region’s current account surplus to widen to EUR19 billion in September.
The seasonally adjusted 12-month cumulated current account for the period ending in September 2013 recorded a surplus of EUR196.5 billion, 2.1% of euro area GDP, compared with a surplus of EUR100 billion, 1.1% of euro area GDP, for the previous 12-month period.
Following the release of the data, the euro was modestly higher against the U.S. dollar, with EUR/USD adding 0.1% to trade at 1.3510.
Meanwhile, European stock markets remained lower. The EURO STOXX 50 shed 0.25%, France’s CAC 40 dipped 0.25%, London’s FTSE 100 declined 0.25%, while Germany's DAX fell 0.2%.
In a report, the European Central Bank said that the euro zone current account recorded a seasonally adjusted surplus of EUR13.7 billion in September, down from a surplus of EUR17.9 billion in August, whose figure was revised up from a previously reported surplus of EUR17.4 billion.
Economists had expected the region’s current account surplus to widen to EUR19 billion in September.
The seasonally adjusted 12-month cumulated current account for the period ending in September 2013 recorded a surplus of EUR196.5 billion, 2.1% of euro area GDP, compared with a surplus of EUR100 billion, 1.1% of euro area GDP, for the previous 12-month period.
Following the release of the data, the euro was modestly higher against the U.S. dollar, with EUR/USD adding 0.1% to trade at 1.3510.
Meanwhile, European stock markets remained lower. The EURO STOXX 50 shed 0.25%, France’s CAC 40 dipped 0.25%, London’s FTSE 100 declined 0.25%, while Germany's DAX fell 0.2%.