July 23, 2017
Business confidence rose from minus 2.0 in June to minus 1.5 in July. The increase in the barometer resulted from improving sentiment in the business-related services and trade industries, which more than offset worsening sentiment in the building and manufacturing industries.
Consumer confidence improved significantly in July, coming in at 2.0 and moving into positive territory after dropping below 0 in June. July’s reading was the highest since a pre-crisis peak in 2007, with consumers growing more optimistic regarding their ability to save money, unemployment and their financial situation, while their view of the general economic situation was unchanged compared to June.
Author: Oliver Reynolds, Economist