FRANKFURT (AFX) - The current account deficit in the euro area decreased to 0.8 bln eur in May from 1.0 bln a year earlier, the European Central Bank said in a statement. It said while the surplus for both goods and services doubled in the period to 5.3 bln eur for goods and to 1.8 bln eur for services, the deficits for income and current transfers increased. It added seasonally adjusted data for the current account is now available, and shows while monthly exports of goods and services have been virtually unchanged since the end of last year, imports have fallen over the same period. In the financial account, combined direct investment and portfolio investment recorded net outflows of 15.5 bln eur in May. Direct investment recorded large net outflows in May of 40.4 bln eur, due mainly to a "large takeover transaction" which was settled through an exchange of shares. Portfolio investment inflows amounted to 24.9 bln eur, due to high net inflows of equities of 48.7 bln, resulting from the takeover. The ECB did not specify which takeover it is referring to. Elsewhere in the current account, net inflows in financial derivatives amounted to 3.4 bln eur. Net inflows to other investment amounted to 11.1 bln bln eur, it said. The ECB said final figures for the first quarter as a whole show the current account deficit stood at 6.3 bln eur, 3.0 bln eur lower than the previous estimate.