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French Current Account Deficit Narrows Sharply

France's current account gap narrowed notably in August from a month earlier, data from the Bank of France showed Friday.

The seasonally and working-day-adjusted current account deficit fell to EUR 1.5 billion in August from EUR 4.3 billion in July.

The goods trade deficit decreased to EUR 3.2 billion in August from EUR 5.3 billion in the preceding month. At the same time, the surplus on services trade grew from EUR 0.1 billion to EUR 0.8 billion.

Without adjustment, the financial account balance turned to a surplus of EUR 1.6 billion in August from a shortfall of EUR 17.4 billion in the prior month.

Within the financial account, direct investments show net outflows of 1.4 billion, after 3.1 billion in July, with a decrease in French investments abroad and foreign investments in France.

by RTT Staff Writer

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