Current Account in Eurozone
Eurozone - Current Account (billions of Euros)Flash estimates revealed that growth surpassed expectations in the first quarter of the year, reviving after last year’s sharp slowdown. Although a breakdown by components is not yet available, solid household spending likely supported the result as consumers benefitted from a tightening labor market. In addition, a relatively mild winter may have bolstered the construction sector, while the manufacturing sector is expected to have improved somewhat as one-off issues fade. That said, monthly data still points to soft activity overall and it remains to be seen if momentum will keep pace in Q2. Economic sentiment dropped for the 10th consecutive month in April and the composite PMI continued to point to a two-speed economy in May. Meanwhile, the European parliamentary elections revealed increasing divisions within the union. The vote suggests that the European project will likely remain stuck: with little appetite to move forward or backwards with integration and reforms.
Eurozone - Current Account (EUR bn) Data
|Current Account Balance (EUR bn)||221||250||340||388||388|
5 years of economic forecasts for more than 30 economic indicators.
Eurozone Current Account (EUR bn) Chart
Source: Eurostat and FocusEconomics calculations.
|Exchange Rate||1.13||0.65 %||Jun 13|
|Stock Market||1,159||-0.52 %||Jun 13|
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June 13, 2019
Industrial output contracted again in April, recording the third drop in a row.
June 6, 2019
The European Central Bank (ECB) turned more dovish at its June monetary policy, responding to the bloc’s softer growth momentum.
June 4, 2019
Labor market conditions in the common currency bloc improved in April, according to data released by Eurostat.
May 28, 2019
The euro continued to languish near two-year lows in recent weeks, ending 24 May at USD 1.12 per EUR, barely unchanged from the same day in April.
May 28, 2019
Sentiment in the Eurozone improved in May, breaking a streak of 10 months of deteriorating confidence.