Eurozone Economic Sentiment June 2017

Eurozone

Eurozone: Economic sentiment jumps to nearly decade-high in June

June 29, 2017

The European Commission (EC) reported that economic sentiment in the Eurozone increased in June, recording the best result since August 2007. The economic sentiment index (ESI) increased from 109.2 points to 111.1. The result overshot market analysts’ expectations of a slight rise to 109.5.

Looking at the result in detail, June’s jump was broad based as all sectors of the economy recorded an increase in sentiment. Consumer confidence strengthened amid more positive views regarding the future employment situation.

At a country level, economic confidence increased the most in Estonia, Austria and Slovenia, in that order. In contrast, economic sentiment in Cyprus, Portugal and Romania worsened compared to the previous month. Among the major economies, Germany led the pack, followed by France.

FocusEconomics Consensus Forecast panelists see private consumption growing 1.5% in 2017, which is unchanged from last month’s projection. For 2018, panelists see consumption also expanding 1.5%. Panelists expect investment to grow 3.2% in 2017, which is up 0.5 percentage points from last month’s forecast. In 2018, panelists see investment increasing 2.9%.


Author:, Economist

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Euro Economic Sentiment June 2017 1

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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