November 19, 2018 / 9:04 AM / a month ago

Euro zone current account surplus narrows in Sept

FRANKFURT, Nov 19 (Reuters) - The current account surplus of the 19 countries sharing the euro narrowed to 17 billion euros in September from 24 billion euros in August, as the trade surplus eased, the European Central Bank said on Monday.

In the 12 months to September, the surplus was 3.1 percent of the bloc’s gross domestic product, the same as in the preceding 12-month period, with almost all of that coming from a surplus on goods trade.

The surplus, often criticised by the U.S. administration as excessive, is expected to narrow to 2.8 percent of GDP next year but may then hold at that level in 2020, according to ECB projections. (Reporting by Balazs Koranyi Editing by Matthew Mpoke Bigg)

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