Euro Area: Economic sentiment drops further in August

Euro Area Economic Sentiment August 2023

Euro Area: Economic sentiment drops further in August

Sentiment in the Eurozone fell to 93.3 in August from 94.5 in July. Consequently, the index moved further below its long-run average of 100, signaling persistent albeit moderate pessimism.

Sentiment in the construction, industry and services sectors decreased. Moreover, employment expectations weakened further. Moreover, consumer confidence lost ground. Meanwhile, selling price expectations rose in the industry and construction sectors and remained unchanged in the services and retail trade sectors.

In terms of specific countries, sentiment declined in France, Germany and Italy while it rose in the Netherlands and Spain.

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