Eurozone current account surplus narrows in January
The current account surplus in the Eurozone narrowed in January to a 15-month low, according to data released by the European Central Bank.
The seasonally-adjusted current account balance revealed a surplus of €24.1bn compared to a revised €30.8bn in December.
On a 12-month cumulative basis, the current account surplus rose to 3.3% of gross domestic product from 3.1% in the same period last year.
Claus Vistesen, chief eurozone economist at Pantheon Macroeconomics, said: "Overall, the financial account flows continue to tell a story of rising net foreign assets as the eurozone surplus is 'recycled abroad' due to low interest rates and European Central Bank quantitative easing.
"We think the trade surplus will be hit by slow growth in the UK in 2017, but the primary income balance likely will increase as a lagged response to soaring net foreign assets."