RTTNews - Eurozone recorded a seasonally and working day adjusted of EUR 1.2 billion in May, narrowing from a deficit of EUR6.1 billion in April, revised from a EUR 5.9 billion deficit reported initially, the European Central Bank said Thursday.

The current account deficit has been steadily declining since February this year, with the deficit in May being the smallest since the beginning of the year.

During the month, the goods account recorded a surplus of EUR 2.9 billion, higher than a surplus of EUR 2.5 billion in the preceding month. The income account showed a surplus of EUR 1.6 billion, reversing from a deficit of EUR 3 billion in April.

Further, the deficit in the current transfers account narrowed to EUR 7.9 billion from EUR 8.6 billion in the previous month. However, the surplus in the services account decreased to EUR 2.2 billion from EUR 3 billion in the preceding month.

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