Eurozone: Economic sentiment rises to over 10-year high
August 30, 2017
The European Commission (EC) reported that economic sentiment in the Eurozone rose in August, recording the best result in more than a decade. The economic sentiment index (ESI) increased from 111.2 to 111.9. The result overshot market analysts’ expectations of a smaller rise to 111.3.
Looking at the result in detail, August’s increase was due to higher sentiment in the manufacturing and services sectors which offset weaker confidence in the construction and retail trade sectors. Consumer confidence was largely unchanged.
At a country level, economic sentiment rose in three of the five largest economies in the region, increasing in France, Italy and Spain. However, sentiment moderated in Germany and the Netherlands.