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Euro Zone’s current account deficit narrowed in July |
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FXstreet.com (Barcelona) – The current account balance of the Euro Area has reduced considerably its deficit in July due to considerable improvements on services and income transfers, according to data released by the European Central Bank.
In July, Euro Area’s current account deficit narrowed to EUR1.7 billion in seasonally adjusted terms, from the revised EUR 6.1 billion deficit posted in June, previously estimated EUR 8.2 billion.
July’s improvement has to do with larger surpluses in services, EUR 4.4 billion, and income transfers EUR 2.3 billion, which have offset deficits in current transfers, EUR 6.8 billion, and goods transfers, EUR 1.6 billion.
Posted originally: 9/24/2008 8:27:00 AM
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