Eurozone Economic Sentiment


Eurozone: Eurozone sentiment falls in June

June 27, 2014

The Economic Sentiment Indicator (ESI) published by the European Commission fell to 102.0 points in June, which was down from the 102.6 points recorded in May and contrasted market expectations that sentiment would rise to 103.0 points. That said, June’s print marked the seventh consecutive month in which the index remained above its 100-point long-term average.

Three of the five categories measured deteriorated compared to the previous month, with the strongest drop recorded in construction. At a country level, the largest decreases were seen in Luxembourg (-1.9 points) and Austria (-1.6 points). Sentiment deteriorated in three of the four major economies in the region, with the highest drop recorded in Germany (-1.3 points), followed by France (-1.2 points) and Italy (-1.0 points). Sentiment did, however, improve in Spain (+2.2 points). Malta boasted the highest confidence level in the region in June with 109.8 points, followed by Germany, with 106.5 points.

FocusEconomics Consensus Forecast panelists see private consumption growing 0.7% in 2014, which is unchanged over last month’s projection. For 2015, panelists see consumption expanding 1.1%. Panelists expect investment to grow 2.3% in 2014, which is up 0.1 percentage points from last month’s forecast. In 2015, panelists see investment increasing 2.9%.

Author:, Head of Data Solutions

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Eurozone Economic Sentiment Chart

Euro Economic Sentiment June 2014 0

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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