Euro Area Swings to €8.6 Billion June Trade Surplus, Beating €2.2 Billion Deficit Forecast
Updated
Updated · newsquawk.com · Aug 14
Euro Area Swings to €8.6 Billion June Trade Surplus, Beating €2.2 Billion Deficit Forecast
3 articles · Updated · newsquawk.com · Aug 14
Summary
€8.6 billion marked the euro area's June goods trade balance, a sharp swing from May's €9.0 billion deficit and well above forecasts for a €2.2 billion shortfall.
Exports rose 14.4% year on year to €272.5 billion while imports increased 13.1% to €264.0 billion, pointing to stronger goods flows rather than a headline move alone.
Chemicals, manufactured goods, food and drink, plus firmer machinery and vehicles were cited as the main drivers, key categories for judging whether the surplus reflects export strength.
The release is unlikely to shift near-term ECB rate expectations by itself; markets will look to German data, revisions and later current-account figures to judge the euro impact.