In World Economy News 18/08/2016
The euro area current account surplus declined to a 4-month low in June, the European Central Bank reported Thursday.
The current account surplus fell to EUR 28.2 billion in June from EUR 31.8 billion in May. This was the lowest since February, when the surplus totaled EUR 26.4 billion.
The visible trade surplus rose to EUR 32.9 billion from EUR 31.1 billion a month ago. Meanwhile, the surplus on services decreased to EUR 5.3 billion from EUR 6.5 billion.
The primary income declined to EUR 0.1 billion from EUR 3.1 billion in May. The shortfall in secondary income widened to EUR 10.1 billion from EUR 8.9 billion.
On an unadjusted basis, the current account surplus increased sharply to EUR 37.6 billion from EUR 16.5 billion in May.
The cumulated current account for the 12 months to June period showed a surplus of EUR 347.8 billion, equivalent to 3.3 percent of euro area GDP.
In the financial account, combined direct and portfolio investment recorded net acquisitions of assets of EUR 27 billion and net incurrences of liabilities of EUR 5 billion.
Source: RTT News
