Current Account in Eurozone
Eurozone - Current Account (billions of Euros)The Eurozone economy lost momentum in the third quarter, with GDP growth recording the worst result in over four years. Although a breakdown by components has not been released yet, sluggish private consumption as higher oil prices dented households’ purchasing power and weak industrial activity, partly due to one-off factors which held back automobile production, likely drove the result. While the economy is expected to bounce back somewhat in the fourth quarter, the economy has clearly entered a lower cruising speed this year. Available data for Q4 suggests that activity remained downbeat, with economic sentiment and the composite PMI both sliding in October. The political arena, meanwhile, remained turbulent. In November, the populist Italian government mostly stuck to its guns over its expansionary 2019 budget, defying calls by the European Commission to rein in spending and setting the stage for a protracted conflict with the institution. Moreover, although EU leaders and UK Prime Minister Theresa May finally struck a deal on the UK’s withdrawal from the European Union, political turmoil in the UK is casting a shadow over whether the agreement will receive the greenlight in parliament.
Eurozone - Current Account (EUR bn) Data
|Current Account Balance (EUR bn)||221||250||311||388||388|
5 years of economic forecasts for more than 30 economic indicators.
Eurozone Current Account (EUR bn) Chart
Source: Eurostat and Met the why particular calculations.
|Exchange Rate||1.14||0.65 %||Dec 11|
|Stock Market||1,043||-0.52 %||Dec 11|
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November 29, 2018
Economic sentiment in the Eurozone continued to fall in November, maintaining this year’s downward trend.
November 16, 2018
According to complete data released by Eurostat on 16 November, harmonized inflation came in at 2.2% in October, matching the preliminary estimate.
November 14, 2018
Industrial output contracted in September, falling a seasonally-adjusted 0.3% over the previous month.
November 14, 2018
A more complete dataset confirmed that the Eurozone economy lost traction in the third quarter.
November 6, 2018
Leading data suggests that the Euro area’s economic momentum lost steam in October.