Eurozone Current Account Logs Surplus In March
Thursday, 24 May 2012 | 00:00
The Eurozone current account registered a seasonally adjusted surplus of EUR 9.1 billion in March compared to a deficit of EUR 1.2 billion in February, the European Central Bank said Wednesday.
The surplus reflects surpluses on trade in goods and services and income.
The goods account surplus totaled EUR 8.6 billion, up from EUR 1.4 billion in the previous month. Likewise, the surplus in services rose to EUR 6.2 billion from EUR 5.2 billion.
Income increased to EUR 3 billion from EUR 1 billion a month ago. The surpluses were partially offset by EUR 8.8 billion deficit in current transfers.
The 12-month cumulated seasonally adjusted current account posted EUR 9.6 billion surplus in March, which was around 0.1 percent of euro area GDP, compared with a deficit of EUR 16.7 billion a year earlier.
On an unadjusted basis, the current account surplus was EUR 7.5 billion in March compared to a shortfall of EUR 5.6 billion in the previous month.
Source: RTT News
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