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#eurozone investments surge, current account surplus narrows in July

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b-ecb-a-20141101Investments in the eurozone surged in July but the bloc's current account surplus narrowed, primarily on a lower trade surplus, the European Central Bank said on Monday, 19 September, writes Balazs Koranyi.

The 19-member currency bloc's adjusted current account surplus shrank to €21 billion euros ($23.4bn) in July from €29.5bn per month earlier while unadjusted direct and portfolio investments jumped to €72.1bn from €6bn in June.

Net portfolio investments, surging to €52.8bn from €11.6bn, accounted for the bulk of the increase but direct investments also contributed significantly, rising to a net inflow of €19.3bn from an outflow of €5.6bn in June.

For the latest 12 months, the current account surplus widened to 3.2% of the bloc's GDP from 3.0 % a year earlier.

For more on eurozone balance of payment data, please click on: here

($1 = 0.8963 euros)

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