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EU current account surplus narrows to 32.2 bln euros in Q1

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Source: Xinhua English   Publishing Date: 2014-6-7 7:49:41

BRUSSELS, June 6 (Xinhua) -- The European Union seasonally adjusted external current account recorded a surplus of 32.2 billion euros (about 43.8 U.S. dollars) in the first quarter of 2014, lower than the previous quarter, the European Union (EU) statistics office Eurostat said Friday.

The latest data also showed the surplus decreasing compared with 34.9 billion euros of the first quarter of 2013.

Based on seasonally adjusted data, the surplus of the goods account fell to 3.3 billion euros in the first quarter of 2014 from 7.3 billion euros in previous quarter.

The strong euro was criticized as source to subdue consumption,trade and economy in Europe.

The European Central Bank (ECB) Thursday moved to cut interest rates to weaken the euro and boost the weak economic recovery of euro zone. (1 euro=1.36 U.S. dollars) (Source:Xinhua English)

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