EU Current Account reported a €12.9 B deficit

Friday, 16 September 2011 11:39

The Eurozone Current Account was released today, announcing a report worse than expected.  Expectations rallied around a release of -5.6 billion euros, predicting a positive drop from June's deficit of €7.1 billion.

Instead, the EU Current Account (measuring the difference in value between imported and exported goods, as well as services and income flow) for July came out at a deficit of an astounding €12.9 billion.