FXstreet.com (Barcelona) - Euro Area's current account deficit has jumper twice as much as expected in November, on the back of a sharp increase of goods trade deficit, according to data released by the European Central Bank.
November's current account deficit has widened to EUR16 billion in November from the EUR6 billion deficit posted in October, revised down from the EUR6.4 billion deficit previously released. Market analysts expected the deficit to have risen to EUR8 billion.
One of the main reasons of the deficit has been the weak performance of goods trade, which fell to a EUR6.0 billion deficit in November from a EUR3.6 billion surplus in October. Trade in services posted a EUR3.4 billion surplus, down from EUR3.6 billion surplus in October.