Eurozone July trade balance €12.8 billion vs €16.2 billion expected
Latest data released by Eurostat - 14 September 2018
- Prior €16.7 billion; revised to €16.5 billion
- Non-seasonally adjusted trade balance €17.6 billion
- Prior €22.5 billion
Of note, unadjusted exports rose by 9.4% year-on-year while imports were up 13.4% year-on-year. Nothing in here that will really move markets although there's one thing that will continue to put a target on the EU's forehead in the trade rhetoric with the US.
And that's the fact that the bloc's trade surplus to the US grew to €79.3 billion year-to-date in July, and that's up from €67.1 billion year-to-date in July 2017.
At the same time, Q2 wages and labour market costs are also released:
- Q2 wages +1.9% vs +1.8% y/y prior
- Q2 labour costs +2.2% vs +2.0% y/y prior