Investing.com - The euro zone current account posted an unexpected surplus 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 EUR0.5 billion in September, after August’s deficit of USD5.0 billion, whose figure was revised down from a deficit of EUR5.0 billion.
Economists had expected the current account deficit to narrow to EUR3.4 billion in September.
The report said that the 12-month cumulated seasonally adjusted current account recorded a deficit of EUR56.5 billion in September, approximately 0.6% of euro area gross domestic product, compared with a deficit of EUR26.2 billion a year earlier.
Following the release of the data, the euro remained lower against the U.S. dollar, with EUR/USD dropping 0.46% to trade at 1.3460.
Meanwhile, European stock markets were sharply lower after the open. The EURO STOXX 50 plunged 2.09%, France’s CAC 40 dove 2.12%, Germany's DAX plummeted 2.38%, while the FTSE 100 tumbled 1.76%.
In a report, the European Central Bank said that the euro zone current account recorded a seasonally adjusted surplus of EUR0.5 billion in September, after August’s deficit of USD5.0 billion, whose figure was revised down from a deficit of EUR5.0 billion.
Economists had expected the current account deficit to narrow to EUR3.4 billion in September.
The report said that the 12-month cumulated seasonally adjusted current account recorded a deficit of EUR56.5 billion in September, approximately 0.6% of euro area gross domestic product, compared with a deficit of EUR26.2 billion a year earlier.
Following the release of the data, the euro remained lower against the U.S. dollar, with EUR/USD dropping 0.46% to trade at 1.3460.
Meanwhile, European stock markets were sharply lower after the open. The EURO STOXX 50 plunged 2.09%, France’s CAC 40 dove 2.12%, Germany's DAX plummeted 2.38%, while the FTSE 100 tumbled 1.76%.