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Euro zone current account deficit narrows in September

The euro zone slipped into a current account deficit this year as soaring energy prices and a weak euro pushed up its import bill
The euro zone slipped into a current account deficit this year as soaring energy prices and a weak euro pushed up its import bill

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

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 in September from €26.9 billion a month earlier.

On an unadjusted basis, the bloc had a surplus of €3.8 billion after a deficit of €20.8 billion.

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.