Eurozone Economic Sentiment August 2017


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.

FocusEconomics Consensus Forecast panelists see private consumption growing 1.6% in 2017, which is unchanged from last month’s projection. For 2018, panelists see consumption also expanding 1.6%. Panelists expect investment to grow 3.8% in 2017, which is down 0.7 percentage points from last month’s forecast. In 2018, panelists see investment increasing 3.0%.

Author: Angela Bouzanis, Senior Economist

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Eurozone Economic Sentiment Chart

Euro Economic Sentiment August 2017

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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