The euro zone current account deficit narrowed in March to €6.5 billion, new data from the European Central Bank shows today.

The ECB current account, the broadest measure of the 16-nation zone's trade in goods and services, had posted a deficit of €7.8 billion in February, the central bank said, meaning the area imported more than it exported.

On an annual basis, the 12-month cumulated current account fell to a deficit of €102 billion, about 1.1% of euro zone gross domestic product (GDP), from a surplus of €11 billion the same time a year earlier.

Separate figures showed that factories in the euro zone saw demand fall in March. New industrial orders slid 0.8% in March compared to February, bringing the drop over 12 months to 26.9%, the EU's Eurostat data agency said.