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.
Author: Jan Lammersen, Economist