RTTNews - Tuesday, the European Central Bank said the euro area current account deficit totaled a seasonally adjusted EUR 6.5 billion in March, down from EUR 7.8 billion deficit in February.

The deficit reflects EUR 7.6 billion shortfall in current transfers and EUR 1.6 billion deficit in goods account, which was partly offset by surpluses in services and income.

The 12-month cumulated, working day-adjusted current account up to March 2009 recorded a deficit of EUR 102.3 billion, around 1.1% of euro area GDP compared with a deficit of EUR 11.2 billion a year earlier.

On an unadjusted basis, the current account deficit widened to EUR 3.5 billion in March from EUR 2.1 billion in February.

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