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- Euro area’s economic sentiment index declines slightly more than anticipated in August
Euro area’s economic sentiment index declines slightly more than anticipated in August
The
European Commission (EC) announced on Monday that the Economic Sentiment
Indicator (ESI) for the euro area decreased 1.5 points to 117.5 in August, falling
back from an all-time high of 119.0 in July. Economists had forecast the ESI to
decrease to 117.9 in August.
The
ESI’s was dampened by declines in confidence in services (to 16.8 in August from
18.9 in July), industry (to 13.7 from 14.5) and among consumers (to -5.3 from -4.4).
Meanwhile, confidence improved again in construction (to 5.5 from 4.0) and changed
little in retail trade (to 4.6 from 4.4).
From
a country perspective, the largest declines in the ESI occurred in France
(-4.5) and in the Netherlands (-3.0).
The euro
area’s Employment Expectations Indicator (EEI) rose 1.2 points to 112.8 in August,
recording its highest level since November 2018.
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