June 20, 2017
Business confidence fell from minus 1.1 in May to minus 2.0 in June. The drop in the barometer resulted from worsening sentiment in the manufacturing and trade industries, which more than offset improvements in the business-related services and in the building sector.
Consumer confidence worsened in June after three months in neutral territory. Sentiment among consumers decreased from May’s flat reading to minus 2 points in June, driven by worries about consumers’ ability to save money. Moreover, although unemployment remains at multi-year lows, citizens are increasingly concerned that the situation could reverse in the coming 12 months. Households’ views on the general economic situation increased, while their views on the financial situation were left unchanged.
Author: Jan Lammersen, Economist