Euro Zone Current Account Surplus Narrows Sharply in July

The euro zone's current account surplus narrowed in July to €27.6 billion from €35.1 billion a month earlier, according to European Central Bank data released on Friday.

This represents a decrease of €7.5 billion and a narrowing of the surplus to 1.7% of euro area GDP for the 12 months to July, down from 1.9% one year earlier.

The data showed that the euro zone's current account surplus has been decreasing steadily over the past few months, which may be a concern for policymakers.