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Eurozone current account surplus narrows

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(GlobalPost/GlobalPost)

The eurozone's current account surplus narrowed to 19.6 billion euros ($25.7 billion) in May from 23.8 billion euros in April, European Central Bank data showed on Thursday.

The current account on the balance of payments, which includes imports and exports in both goods and services plus all other current transfers, is a closely tracked indicator of the ability of a country or area to pay its way in the world.

It is crucial for the long-term confidence of investors and trading partners.

Over the 12 months to May, the current account showed a surplus of 189.5 billion euros, compared with a surplus of 53.3 billion euros a year earlier, the data showed.

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http://www.globalpost.com/dispatch/news/afp/130718/eurozone-current-account-surplus-narrows