The euro zone's current-account surplus narrowed in September, after increasing in August, data from the European Central Bank showed Monday.
The current-account balance, a broad measure of an economy's international financial position, narrowed to a surplus of 13.7 billion euros ($18.5 billion) in September, following an upwardly revised EUR17.9 billion surplus in August.
The monetary bloc's surplus in trade of goods also narrowed to EUR13.7 billion in September from EUR14.7 billion in August, though still suggesting the euro zone continues to export more than it imports.
Weaker euro-zone countries have turned to export markets for growth, as austerity measures have put pressure on imports. Meanwhile a mix of stagnation, weak prices and high unemployment continue to weigh on the region.
The jobless rate is at a euro-era high of 12.2%. Annual inflation slowed to a mere 0.7% in October, far below the ECB's target of slightly below 2% over the medium term.
Euro-zone gross domestic product, a measure of economic growth, expanded 0.1% from the previous quarter, or 0.4% at an annualized rate, the European Union's statistics agency Eurostat said Thursday.
That is down sharply from roughly 1.2% annualized growth in the second quarter. The ECB responded to the weak consumer-price numbers earlier this month with a surprise rate cut, bringing its key lending rate down to 0.25%, a record low.
In September, the surplus for services narrowed to EUR7.6 billion, while the surplus for income fell to EUR2.5 billion.
The deficit in current transfers widened further to EUR10.1 billion. The data are adjusted for seasonal effects and consider the number of working days each month.
nasdaq.com
The current-account balance, a broad measure of an economy's international financial position, narrowed to a surplus of 13.7 billion euros ($18.5 billion) in September, following an upwardly revised EUR17.9 billion surplus in August.
The monetary bloc's surplus in trade of goods also narrowed to EUR13.7 billion in September from EUR14.7 billion in August, though still suggesting the euro zone continues to export more than it imports.
Weaker euro-zone countries have turned to export markets for growth, as austerity measures have put pressure on imports. Meanwhile a mix of stagnation, weak prices and high unemployment continue to weigh on the region.
The jobless rate is at a euro-era high of 12.2%. Annual inflation slowed to a mere 0.7% in October, far below the ECB's target of slightly below 2% over the medium term.
Euro-zone gross domestic product, a measure of economic growth, expanded 0.1% from the previous quarter, or 0.4% at an annualized rate, the European Union's statistics agency Eurostat said Thursday.
That is down sharply from roughly 1.2% annualized growth in the second quarter. The ECB responded to the weak consumer-price numbers earlier this month with a surprise rate cut, bringing its key lending rate down to 0.25%, a record low.
In September, the surplus for services narrowed to EUR7.6 billion, while the surplus for income fell to EUR2.5 billion.
The deficit in current transfers widened further to EUR10.1 billion. The data are adjusted for seasonal effects and consider the number of working days each month.
nasdaq.com
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