(Alliance News) - The eurozone's current account surplus grew by less than anticipated in May, data from the European Central Bank showed Friday.

The single-currency area's surplus grew to EUR32.31 billion in May from EUR18.64 billion in April, less than the increase to EUR34.8 billion expected by market consensus cited by FXStreet.

In the 12 months to the end of May, the current account surplus fell to EUR333 billion, or 2.1% of eurozone GDP, from EUR364 billion and 2.5% of GDP a year prior. The decline was mostly driven by a shift from a surplus of EUR34 billion to a deficit of EUR5 billion for primary income. Further, the deficit in secondary income increased 9.5% to EUR185 billion from EUR169 billion.

Separately, Eurostat reported that annual growth in construction output slowed to 2.9% in May from 4.7% in April.

The biggest annual increase in construction production was in Spain with 45%, while the biggest decline was in Germany with 3.4%

On a monthly basis, eurozone construction output declined by 1.7% in May, after 4.3% growth in April from March.

The highest growth in monthly construction production was in Slovenia with 5.4%, while the largest decline was in Germany with 3.9%.

By Tom Budszus, Alliance News slot editor

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