Spain's Current Account Surplus Ticks Down to €1.84 Billion

Spain's current account balance recorded a surplus of €1.84 billion in May, down from a revised €1.88 billion in April, according to data released by the Bank of Spain.

This marks the 13th consecutive month of surplus for Spain, driven largely by robust tourism revenues and a competitive services sector.

The goods balance remains in deficit, but this is more than offset by a strong services surplus.

While the decline from April's figure is marginal, analysts note that it comes amid slowing global demand and persistent inflationary pressures across the eurozone.