RTTNews - Eurozone recorded trade surplus for the second month in May, but the fall in imports and exports underlines the sluggish demand at home and abroad.
The seasonally adjusted trade surplus was EUR 800 million in May, up from EUR 700 million in April, data released by the Eurostat showed Friday. The figure was in line with economists' expectations.
Suggesting that demand is still sluggish outside the euro area, the pace of decline in exports quickened to 2.7% month-on-month from a 0.7% fall recorded in April. The fall in imports, by 2.8%, was unchanged from April, but signaled prevailing weakness in internal demand.
After not adjusting for seasonal variations, the euro area trade surplus was EUR 1.9 billion, down from EUR 2.7 billion surplus in April. Exports fell 24% year-on-year and imports plunged 27%.
The seasonally adjusted trade deficit for EU27 was EUR 8.5 billion in May, down from EUR 10.8 billion deficit in April. Exports fell 1% month-on-month and imports dropped 3.2%.
In a separate release, the statistical office said Eurozone construction output resumed its decline in May after rising in previous two months.
Construction output fell 2% month-on-month in May after rising a revised 0.4% in April and 0.7% in March. On an annual basis, the decline was 8% in May, quicker than a downwardly revised decline of 5% in the previous month.
In the EU 27, construction output fell 2.7% month-on-month and 9.6% over the previous year.
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