Economic Buzz: Eurozone current account surplus at ?28B

The European Central Bank (ECB) said on Friday that the euro area current account recorded a ?28 billion surplus in July, down by ?7 billion from June. In the 12 months to July, the surplus totaled ?282 billion, or 1.7% of the euro area gross domestic product, ?16 billion less than a year earlier.

Meanwhile, Eurozone residents' net acquisitions of non-euro area portfolio investment securities came to ?815 billion in the 12 months to July, while non-residents' net acquisitions of euro area portfolio investment securities amounted to ?1,156 billion. Euro area residents made net investments of ?357 billion in non-euro area assets in the same period, and non-residents invested ?59 billion in net terms in euro area assets.

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