ECB says euro zone Q2 c/a deficit with non-G10 countries offset surplus with UK |
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Published
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Wed, 17 Oct 2007 09:13
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FRANKFURT (Thomson Financial) - The European Central Bank said euro zone current account deficits with non-G10 countries and Japan more than offset surpluses with the UK and other EU countries in the second quarter.The euro zone had a current account deficit of 26.5 bln eur in the second quarter with 'other countries', a category covering countries which are not in the EU or the G10, and which therefore includes China.It also had a deficit of 10.0 bln eur with Japan.These deficits were only partly offset by surpluses of 25.1 bln eur with the UK and of 16.7 bln with the new EU member states.The current account position with the US was close to balance, with the euro zone posting a current account surplus of just 0.3 bln eur with the US in the second quarter.Overall, the euro zone current account was 1.4 bln eur in deficit in the second quarter.The ECB has already reported monthly current current account data up to July, but the monthly data do not include any geographical breakdown.steve.whitehouse@thomson.comsw/lamCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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