Eurozone Economic Sentiment May 2019

Eurozone

Eurozone: Economic sentiment rises in May after 10 months of decline

May 28, 2019

Sentiment in the Eurozone improved in May, breaking a streak of 10 months of deteriorating confidence. Economic sentiment rose 1.2 points from the previous month to 105.1 points. Sentiment in the Eurozone is above its long-run average of 100 points.

A solid improvement in industry confidence drove the rise, as firms assessed more positively their outlook for production. In addition, consumers also grew more confident along with the service sector. On a darker note, sentiment in the construction sector took the sharpest fall in around three years. Employment plans deteriorated in the industrial, services and construction sectors.

Looking at the individual countries, economic sentiment improved in 13 countries, including major-players Germany, France, Italy and Spain. In contrast, sentiment dropped in Belgium, Cyprus, Finland, Latvia and the Netherlands.

FocusEconomics Consensus Forecast panelists see private consumption growing 1.2% in 2019, which is unchanged from last month’s projection. For 2020, panelists also see consumption expanding 1.4%. Panelists expect investment to grow 2.5% in 2019, which is unchanged from last month’s forecast. In 2020, panelists see investment increasing 2.2%.


Author: Angela Bouzanis, Lead Economist

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