Surprise trade surplus in Europe
The 16-country eurozone has posted a surprise trade surplus after an unexpected increase in exports, according to September figures released by the EU’s official statistics office, Eurostat.
The surplus of 3.7 billion euros defied to analysts’ forecasts of a EU2 billion-euro deficit. Combined with data showing a 0.4 percent growth rate in the September quarter compared to the quarter previous, the information suggests the eurozone has come to the end of their recession.
The surplus also came in a time of high currency exchange, which is why economists are surprised the economy is strengthening due to increased export sales rather than a return to higher consumer spending.
However, both export and import figures are down compared with the same period last year.
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