Eurozone Economic Sentiment May 2016

Eurozone

Eurozone: Economic sentiment rises in May

May 30, 2016

Economic sentiment in the Eurozone rose in May, according to the European Commission (EC). The economic sentiment index (ESI) increased from 104.0 in April to 104.7. The result overshot the 104.4 that market analysts had expected.

Looking at the sectors of the economy, economic sentiment hit a six-month high in retail trade and improved among consumptions. However, sentiment in the services sector deteriorated.

At a country level, an increase in economic sentiment was registered in Germany, the largest economy in the Eurozone. In addition, sentiment improved in France and Italy. However, sentiment deteriorated in Greece, Portugal and Spain.

FocusEconomics Consensus Forecast panelists see private consumption growing 1.6% in 2016, which is unchanged from last month’s projection. For 2017, panelists also see consumption expanding 1.4%. Panelists expect investment to grow 3.0% in 2016, which is up 0.2 percentage points from last month’s forecast. In 2017, panelists see investment increasing 1.5%.


Author: Angela Bouzanis, Senior Economist

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Euro Economic Sentiment May 2016

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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