Eurozone Current Account Surplus Widens in May as Primary Income Rises

The European Central Bank said the eurozone's seasonally adjusted current account surplus widened in May as higher primary income, including interest, profit, and dividend income, offset a narrower trade surplus. According to Jin10, the seasonally adjusted current account surplus rose from 17.5 billion euros in April to 25.1 billion euros in May. Unadjusted data showed a 6.2 billion euro current account deficit in May, compared with a 16.7 billion euro surplus in April. Over the 12 months through May, the eurozone's current account surplus was equivalent to 1.7% of GDP, down from 2.0% in the previous year.