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According to the Central Bank of Europe, April’s current euro zone account slip into the deficit, the deficit is at 4 billion eur in a seasonal adjustment term after the 6.7 billion worth of surplus last March.
The surplus last March was revised up in an estimate of 5.4 billion eur. The Thomson Financial news economists are now searching for other surplus worth 3 billion eur. The next 12 months to April the current account was 7.7 billion euro of surplus, this equivalent to a 0.1% in GDP.
The deficit in April was mainly because of an 8.8 billion eur shortfall in the current transfer. Remittance in the workers and government is covered by the current transfer.
This surplus in good trades and services was partly offset ar 3.5 billion eur and 2.2 billion. The deficit of 0.8 billion eur was posted in the income account.
The investment income flow and wages is covered by the income account, this in the payment to workers by their employers with different economy.
The financial accounts in the joined net outflow at the direct portfolio investment were 8 billion eur comparing to the 63 billion net inflows last March.
The inflow in the portfolio investment is slowing down to 16.3 billion eur from a 71.4 billion last March, because in the shifting of equity investment there is a decline of 24.6 billion eur from 28.6 billion in the inflow investment, in debt instrument.
There is an increase of 24.4 billion eur from the direct investment outflow last April.
19:55
Posted on Jun-26-2007
