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Euro zone adjusted current account surplus widens in May
July 20, 2017 / 8:03 AM / in 3 months

Euro zone adjusted current account surplus widens in May

FRANKFURT, July 20 (Reuters) - The euro zone’s adjusted current account surplus widened in May as exports rose but the annualised surplus remained on a downward trend, European Central Bank data showed on Thursday.

The working-day and seasonally-adjusted current account surplus in the 19-country currency bloc increased to 30.1 billion euros ($34.64 billion) in May from 23.5 billion euros a month earlier.

But the rolling 12-month surplus eased to 3.2 percent of the bloc’s gross domestic product from 3.5 percent a year earlier, confirming the ECB’s expectation for a narrowing surplus in 2017.

The ECB expects the surplus to ease to 2.8 percent of GDP this year from 3.4 percent in 2016, then to hover just below 3 percent for the next few years.

Based on unadjusted data, the surplus in May narrowed to 18.3 billion euros from 22.8 billion euros in April.

For more detail on current account data, please click on: here ($1 = 0.8690 euros) (Reporting by Balazs Koranyi; Editing by Gareth Jones)

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