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.
Author: Armando Ciccarelli, Head of Data Solutions