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20th Sep 2022 13:50Eurozone, Daily Monitor

  • The Eurozone’s current account swung to a big deficit in July, playing catch-up with Eurostat’s data.
  • Currency weakness is still mainly increasing the cost of imports; but exports will benefit, eventually.
  • Portfolio in-and outflows are collapsing, and we think this trend has further to run.

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current account current account surplus deficit depreciation ECB energy equities euro euro area exports ez equities imports leading indicators manufacturing monetary policy net trade oil policy policymakers portfolio outflows primary income surplus qe secondary income deficit trade trade balance trade surplus yields

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Keywords for: 21 Sept 2022 Eurozone Monitor

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