In World Economy News 17/08/2016
FRANKFURT–Eurozone imports from the rest of the world rose faster than its exports in June, reducing the currency area’s adjusted trade surplus compared with May, official data showed Tuesday.
The European Union’s statistics agency said that global exports of goods in June rose 0.5% from May, adjusted for seasonal swings, while imports increased 1.5%. As a result, the eurozone’s adjusted trade surplus fell to 23.4 billion euros ($26.4 billion) in June from EUR24.6 billion in May.
On a non-adjusted basis, the eurozone’s trade surplus was EUR29.2 billion in June, compared with EUR25.5 billion in June last year.
Most economists predict that uncertainty about the U.K.’s pending exit from the European Union will continue to weigh on foreign trade and investment in the region, after official data showed Friday that the eurozone’s economy already slowed in the second quarter. Eurostat said the eurozone quarterly growth rate eased to 0.3% from 0.6% in the first three months of the year.
Source: Dow Jones
