he euro zone current account was 2.5 bln euro in deficit in June in seasonally adjusted terms, the European Central Bank said. This compares with a May surplus of 1.9 bln euro. The May surplus was revised up from a provisional estimate of 0.9 bln euro. Over the year to June the euro zone had a total current account surplus of 15.5 bln euro, equivalent to 0.2 pct of GDP. The ECB said deficits of 4.7 bln euro in the income account and 4.5 bln on current transfers exceeded surpluses in goods and services in June. The income account covers investment income flows and wages paid to workers by employers based in a different economy. Current transfers cover transfers between governments and workers' remittances. There was a surplus of 6.2 bln euro in goods trade and 0.5 bln euro in services in June. In unadjusted terms the current account was 2.1 bln euro in deficit in June compared with a May deficit of 3.0 bln. Meanwhile, in the financial account, there was a combined net inflow of 96.3 bln euro in direct and portfolio investment in June compared with an inflow of 25.9 bln in May. There was a net inflow of 105.1 bln euro in portfolio investment, compared with an inflow of 22.7 bln the month before. This mainly reflected net inflows of 61.5 bln euro in equity investments, largely as a result of purchases of euro area securities by non-residents. There was a net outflow of 8.9 bln euro in direct investment in June, compared with an inflow of 3.3 bln the month before. Over the year to June inflows in direct and portfolio investment totalled 76.4 bln euro, compared with an outflow of 72.8 bln in the previous 12-month period. The ECB said this is the result of increased net purchases of euro zone securities by non-residents The figures are based on data from the association's 11 member-companies, including Seven-Eleven Japan,