Eurozone: Economic sentiment eases in May
May 30, 2017
Economic sentiment in the Eurozone softened in May, after recording the best result since August 2007 in April, according to the European Commission (EC). The economic sentiment index (ESI) fell from a revised 109.7 points (previously reported: 109.6 points) to 109.2. The result overshot market analysts’ expectations of a slight rise to 110.0 points. Despite the fall, economic sentiment rests at a high level in the Euro area.
Looking at the sectors of the economy, May’s fall was driven by softer confidence in services and retail trade sectors. Meanwhile, confidence among consumers along with in the manufacturing and construction sectors was broadly unchanged from April.
At a country level, sentiment eased in seven countries including Germany, Italy and Slovenia. In contrast, confidence hit multi-year highs in Austria, Cyprus, Finland, France and Latvia.