Investing.com – The euro zone current account deficit widened unexpectedly in August, official data showed on Tuesday.
In a report, the European Central Bank said that the euro zone current account recorded a seasonally adjusted deficit of EUR 7.5 billion in August, after recording a deficit of EUR 4.1 billion in July, whose figure was revised from EUR 3.8 billion.
Economists had expected the current account deficit to narrow to EUR 1.9 billion in August.
The report said that the 12-month cumulated seasonally adjusted current account recorded a deficit of EUR 48.6 billion in August, approximately 0.5% of euro area gross domestic product.
A year earlier the deficit was EUR 118.8 billion.
Following the release of the data, the euro was down against the U.S. dollar, with EUR/USD shedding 0.07% to hit 1.3924.
In a report, the European Central Bank said that the euro zone current account recorded a seasonally adjusted deficit of EUR 7.5 billion in August, after recording a deficit of EUR 4.1 billion in July, whose figure was revised from EUR 3.8 billion.
Economists had expected the current account deficit to narrow to EUR 1.9 billion in August.
The report said that the 12-month cumulated seasonally adjusted current account recorded a deficit of EUR 48.6 billion in August, approximately 0.5% of euro area gross domestic product.
A year earlier the deficit was EUR 118.8 billion.
Following the release of the data, the euro was down against the U.S. dollar, with EUR/USD shedding 0.07% to hit 1.3924.