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Eurozone Current Account Surplus Rises In June

The euro area current account surplus increased for the first time in five months, the European Central Bank reported Wednesday.

The current account surplus rose to a 3-month high of EUR 25.4 billion in June from EUR 19.1 billion in May. This was the first increase since February.

The surplus on goods trade increased to EUR 27.2 billion from EUR 24.9 billion a month ago. Meanwhile, the surplus on services fell to EUR 5.7 billion from EUR 6.6 billion.

Primary income totaled EUR 1 billion compared to EUR 0.8 billion in May. At the same time, the shortfall on secondary income narrowed to EUR 8.4 billion from EUR 13.3 billion in the prior month.

On an unadjusted basis, the current account surplus surged to EUR 31.1 billion in June from EUR 4.3 billion in the prior month.

In the financial account, combined direct and portfolio investment recorded an increase of EUR 42 billion in assets and a decrease of EUR 6 billion in liabilities.

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