France’s current account deficit has widened to -€1.80 billion. That figure will be a cause of some concern, with forecasters having predicted a deficit of around €1 billion. The latest data will be closely watched on bond markets, as Friday brought news that the S&P rating agency were maintaining the couture’s AA status, but cautioned against any deterioration in the public accounts.
The week ahead is likely to somewhat subdued in Europe, with industrial production figures likely to be the only significant tranche of data from the EMU.
On a global scale, news that Chinese exports sank by -15.0% year-on-year will be cause for concern about global demand. In addition, year-on-year imports shrunk by 12.7%, giving a stark indication that the economy is slowing down after years of breakneck growth.