Investing.com - The euro zone’s current account surplus narrowed less-than-expected in January, official data showed on Wednesday.
In a report, the European Central Bank said that the euro zone current account recorded a seasonally adjusted surplus of EUR14.8 billion in January, down from a surplus of EUR16 billion in December, whose figure was revised up from a surplus of EUR13.9 billion.
Economists had expected the region’s current account surplus to narrow to EUR7.9 billion in January.
The report said that the 12-month cumulated seasonally adjusted current account recorded a surplus of EUR127.1 billion in January, around 1.3% of euro area gross domestic product, compared with a surplus of EUR14.6 billion a year earlier.
Following the release of the data, the euro held on to gains against the U.S. dollar, with EUR/USD adding 0.05% to trade at 1.2888.
Meanwhile, European stock markets remained higher. The EURO STOXX 50 rose 0.7%, France’s CAC 40 added 0.8%, London’s FTSE 100 advanced 0.5%, while Germany's DAX tacked on 0.6%.
In a report, the European Central Bank said that the euro zone current account recorded a seasonally adjusted surplus of EUR14.8 billion in January, down from a surplus of EUR16 billion in December, whose figure was revised up from a surplus of EUR13.9 billion.
Economists had expected the region’s current account surplus to narrow to EUR7.9 billion in January.
The report said that the 12-month cumulated seasonally adjusted current account recorded a surplus of EUR127.1 billion in January, around 1.3% of euro area gross domestic product, compared with a surplus of EUR14.6 billion a year earlier.
Following the release of the data, the euro held on to gains against the U.S. dollar, with EUR/USD adding 0.05% to trade at 1.2888.
Meanwhile, European stock markets remained higher. The EURO STOXX 50 rose 0.7%, France’s CAC 40 added 0.8%, London’s FTSE 100 advanced 0.5%, while Germany's DAX tacked on 0.6%.