Eurozone Economic Sentiment August 2016


Eurozone: Economic sentiment edges down in August

August 30, 2016

Economic sentiment in the Eurozone fell in August, according to the European Commission (EC). The economic sentiment index (ESI) decreased from 104.5 in July to 103.5. The result undershot the 104.1 reading that market analysts had expected.

Looking at the sectors of the economy, economic sentiment fell across the board. In the manufacturing sector, sentiment declined to an eighteen-month low while it fell to an over-one-year low in retail trade.

At a country level, sentiment deteriorated in nine countries including Germany, the largest economy in the Eurozone. In addition, sentiment fell in major players Italy and Spain. However, an increase was recorded in France along with Greece and Slovenia.

FocusEconomics Consensus Forecast panelists see private consumption growing 1.6% in 2016, which is down 0.1 percentage points from last month’s projection. For 2017, panelists see consumption expanding 1.4%. Panelists expect investment to grow 2.8% in 2016, which is down 0.1 percentage points from last month’s forecast. In 2017, panelists see investment increasing 2.2%.

Author: Angela Bouzanis, Senior Economist

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Eurozone Economic Sentiment Chart

Euro Economic Sentiment August 2016

Note: The Economic Sentiment Indicator (ESI) is based on surveys addressed to the manufacturing, services, retail trade and construction sectors, as well as to consumers. Values above 100 indicate an above-average economic sentiment, whereas values below 100 indicate a below-average position.
Source: European Commission

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