Eurozone: Economic sentiment falls to ten-month low in June
June 28, 2018
Economic sentiment in the Eurozone eased slightly in June, continuing a downward trend seen over the past six months. According to the European Commission (EC), the economic sentiment index (ESI) came in at 112.3 points in June, down from 112.5 points in May. June’s result marked a ten-month low. Nonetheless, sentiment in the Eurozone remains elevated in comparison to levels seen over the past two decades.
Lower consumer confidence and a fall in sentiment in the construction sector drove June’s slight deterioration. The drop, however, was partially offset by higher confidence in the retail trade sector. Meanwhile, sentiment in the industrial and services sectors was stable. Employment plans were mixed across sectors. They fell notably in the services and construction sectors, but rose sharply in the industrial sector and slightly in retail trade.
Among member countries, economic sentiment decreased in nine economies, including Germany, Greece and the Netherlands. However, sentiment increased in several other economies, including France, Italy and Portugal.
Author: Lindsey Ice, Economist