26 June 2006, 12:55  Euro zone April current account in balance

The euro zone seasonally adjusted current account was in balance in April, as surpluses in goods, services and the income account were offset by a deficit in current transfers, the European Central Bank said This followed a current account deficit of 1.8 bln eur in March, which was revised down from a provisional estimate of 3.2 bln eur Economists polled by AFX News were expecting the euro zone to post another deficit of 3.5 bln eur in April The ECB said surpluses of 3.1 bln eur in services trade, 2.3 bln eur in goods trade and 0.9 bln eur in the income account were cancelled out by a 6.2 bln eur deficit on current transfers Current transfers cover transfers between governments and workers' remittances. The income account covers investment income flows and wages paid to workers by employers based in a different economy. In unadjusted terms the current account was 8.0 bln eur in deficit in April after a March surplus of 0.1 bln eur The ECB said the total current account deficit for the 12 months to April was 35.3 bln eur, equivalent to around 0.4 pct of GDP

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