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Euro-Zone Current Account Deficit Widens to 10.6B as Capital Outflows Surge Higher
Monday, 24 November 2008 08:30:02 GMT
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The Euro-Zone posted a September current account deficit of EUR 10.6 bln, down from a deficit of EUR 5.3 bln in August. The deterioration was due to a widening of the goods deficits and a lower surplus in the services balance. Slight improvements in the income and transfer deficits were not able to compensate for that. Unadjusted BoP data showed direct and portfolio investment inflows of EUR 38.6 bln in September, but accumulated outflows of EUR 106.8 bln in the first nine months of the year, compared to inflows of EUR 166.5 bln in the corresponding period last year. This together with the negative trends in the current account suggests ongoing EUR weakness.
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