Eurozone Economic Sentiment June 2018


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.

FocusEconomics Consensus Forecast panelists see private consumption growing 1.6% in 2018, which is unchanged from last month’s projection. For 2019, panelists see consumption expanding 1.7%. Panelists expect investment to grow 3.6% in 2018, which is unchanged from last month’s forecast. In 2019, panelists see investment increasing 3.1%.


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Eurozone Economic Sentiment Chart

Euro Economic Sentiment June 2018

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. Data for Luxembourg refers to May.
Source: European Commission

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