Eurozone Economic Sentiment August 2018


Eurozone: Economic sentiment hits one-year low in August

August 30, 2018

Economic sentiment in the Eurozone decreased slightly in August, continuing the downward trend seen in recent months. According to the European Commission (EC), the economic sentiment index (ESI) came in at 111.6 points in August, down from 112.1 points in July. August’s result marked a one-year low. Nonetheless, sentiment in the Eurozone remains elevated in comparison to levels seen over the past two decades.

Markedly weaker confidence among consumers drove August’s deterioration. A decline in services-sector confidence was also recorded. That said, these were partially offset by gains in the construction and retail-trade sectors. Industrial-sector confidence was roughly stable from July. Employment plans were mixed; they worsened across the industrial and retail-trade sectors but improved significantly in the services and construction sectors.

Among member countries, economic sentiment decreased in fifteen economies, including Germany, France, Italy and Spain.

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 3.4% 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 August 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.
Source: European Commission

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