Eurozone Dec. Current Account Swings To Surplus

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Friday, the European Central Bank announced that the Eurozone current account balance on a seasonally adjusted basis showed a surplus of EUR 1.9 billion in December compared to a deficit of EUR 0.5 billion in November. On an unadjusted basis, the surplus totaled EUR 9.4 billion.

In 2009 as a whole, the working day-adjusted deficit on the current account stood at EUR 59 billion, compared with a deficit of EUR 140.6 billion in 2008. The ECB said this development was due to a shift in goods from a deficit to a surplus of EUR 34.7 billion, and decreases in the deficits in income and in current transfers, which were only partly counterbalanced by a decrease in the surplus in services.

Friday, the European Central Bank announced that the Eurozone current account balance on a seasonally adjusted basis showed a surplus of EUR 1.9 billion in December compared to a deficit of EUR 0.5 billion in November. (Market News Provided by RTTNews)