The euro area current account surplus increased to an 8-month high in September, data from the European Central Bank revealed Thursday.
The current account surplus rose to EUR 29.4 billion from EUR 18.7 billion in August. It was the highest since January, when the surplus totaled EUR 30.6 billion.
The surplus on goods account increased to EUR 29.8 billion from EUR 22.1 billion. At the same time, the surplus on services remained unchanged at EUR 4.5 billion.
At the same time, primary income advanced to EUR 4.8 billion from EUR 3.8 billion and the deficit on secondary income narrowed to EUR 9.8 billion from EUR 11.6 billion in prior month.
The 12-month cumulated current account surplus for the period ending September was EUR 303.5 billion, equivalent to 3 percent of euro area GDP.
On an unadjusted basis, the current account surplus surged to EUR 33.1 billion from EUR 14.6 billion in August.
In the financial account, combined direct and portfolio investment recorded increases of EUR 23 billion in assets and of EUR 33 billion in liabilities.
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