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Financial News: French Current Account Deficit Widens In Q1

French Current Account Deficit Widens In Q1

05/04/2018 - 04:02:00 (RTTNews)

(RTTNews) - France's current account gap widened in the three months ended March, data from the Bank of France showed Friday.

The seasonally and working-day-adjusted current account deficit rose to EUR 3.6 billion in the March quarter from EUR 0.3 billion in the previous quarter.

The shortfall on goods trade increased to EUR 12.9 billion in the first quarter from EUR 9.8 billion in the fourth quarter.

Meanwhile, the surplus on services trade shrank to EUR 8.2 billion from EUR 7.6 billion.

The balance of primary and secondary income remained positive at EUR 1.2 billion, down from EUR 1.8 billion in the fourth quarter.

On an unadjusted basis, the financial account exhibited net direct investment abroad of EUR 5.4 billion, after EUR 3.9 billion in the fourth quarter of 2017.

Data also showed that the current account deficit rose to EUR 1.3 billion in March from EUR 0.9 billion in February.

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