January 18, 2019 / 9:09 AM / 3 months ago

Euro zone current account surplus narrows in November

File photo of the skyline of the banking district in Frankfurt, September 18, 2014. REUTERS/Kai Pfaffenbach /Files

FRANKFURT (Reuters) - The adjusted current account surplus of the 19 countries sharing the euro narrowed to 20 billion euros (17.61 billion pounds) in November from 27 billion euros in October, as the trade surplus shrunk, the European Central Bank said on Friday.

In the 12 months to November, the surplus was 3.1 percent of the bloc’s gross domestic product, down from 3.2 percent in the preceding 12-month period, with the trade surplus narrowing even more.

The surplus, which the U.S. administration has labelled excessive, is expected to drop to 2.7 percent of GDP this year, then further to 2.5 percent by 2021, according to ECB projections.

Reporting by Balazs Koranyi; editing by John Stonestreet

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