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Euro zone current account surplus widens in October
December 20, 2016 / 9:11 AM / a year ago

Euro zone current account surplus widens in October

FRANKFURT (Reuters) - Investments in the euro zone dipped in October while bloc’s current account surplus widened slightly, the European Central Bank said on Tuesday.

The 19-member currency bloc’s seasonally and working-day adjusted current account surplus increased to 28.4 billion euros from 27.7 billion euros ($28.77 billion) in September, hovering near the same level since June.

Unadjusted direct and portfolio investments meanwhile fell to 65.1 billion euros from 79.9 billion euros with a small drop in portfolio investments accounting for all of the decline, even as direct investments rose.

For the latest 12 months, the current account surplus widened to 3.2 percent of the bloc’s GDP from 3.1 percent a year earlier.

($1 = 0.9629 euros)

Reporting by Balazs Koranyi; Editing by Francesco Canepa

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