Euro area's working day and seasonally adjusted current account deficit contracted to EUR 8.1 billion in February from a revised EUR 12.3 billion deficit in January, the European Central Bank said Thursday. Economists had expected the deficit to narrow to EUR 10.7 billion.

On an unadjusted basis, the current account deficit fell to EUR 2.3 billion from a revised EUR 19.9 billion shortfall in January.

The capital account surplus in February rose to EUR 0.9 billion from EUR 0.7 billion surplus in January, while the financial account balance turned to a deficit of EUR 5.4 billion from a surplus of EUR 51.2 billion.

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