Spain's capital outflows continued to rise in June amid weakening investor confidence, data from the Bank of Spain revealed Friday.
Net outflows totaled EUR 56.6 billion compared to a net inflow of EUR 7.9 billion in June 2011. The outflow in May amounted to EUR 41.3 billion.
Data showed that the current account deficit fell to EUR 257.2 million from EUR 1.32 billion in the prior year.
The deficit on trade in goods narrowed to EUR 2.22 billion from EUR 3.4 billion last year. Meanwhile, the surplus in services rose to EUR 4.37 billion from EUR 3.98 billion.
Revenues widened to EUR 2.17 billion from EUR 1.46 billion a year ago. The transfer account showed a negative balance of EUR 237.5 million compared to minus EUR 440.9 million in the prior year.
by RTT Staff Writer
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