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Euro zone current account deficit narrows in September

The euro zone’s current account deficit narrowed in September as the trade deficit halved, data from the European Central Bank showed on Tuesday.

Once running big surpluses, the 19-country euro zone slipped into a current account deficit this year as soaring energy prices and a weak euro pushed up its import bill.

The adjusted current account deficit narrowed to 8.1 billion euros ($8.32 billion) in September from 26.9 billion a month earlier, while on an unadjusted basis, the bloc had a surplus of 3.8 billion euros after a deficit of 20.8 billion euros.

In the 12 months to September, the bloc’s current account deficit equalled 0.4% of gross domestic product after a surplus of 2.8% in the preceding 12 months.
Source: Reuters (Reporting by Balazs Koranyi Editing by Francesco Canepa)

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