Eurozone July trade balance €12.8 billion vs €16.2 billion expected

Author: Justin Low | Category: News

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

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