Recovery of euro zone economic sentiment gathers pace in June

imageEconomic Indicators16 hours ago (Jun 29, 2020 05:55AM ET)

(C) Reuters. FILE PHOTO: European Union flags fly outside the European Commission headquarters in Brussels

BRUSSELS (Reuters) – The recovery of economic sentiment in the euro zone intensified in June after a modest pick-up in May, with improvements across all sectors and a much more buoyant sense of future business, European Commission data showed on Monday.

Overall sentiment rose to 75.7 points in June from 67.5 in May, still short of market expectations of 80.0 and well below the average of 100 since 2000.

The index crashed in April to its lowest level since measurements started in 1985 as lockdowns closed large sectors of the economy.

May’s pick-up was due to rises in sentiment in industry and among consumers. June’s further increase was across all sectors, the sharpest rebounds being for retail trade and services. The latter generates about two-thirds of euro zone GDP.

Expectations about production, future demand or plans to make purchases were key parts of the improvement. All sectors also viewed employment plans more favourably, the indicator recovering between 40 and 60% of the March and April losses.

The largest euro area economies – France, Germany, Italy, the Netherlands and Spain – also all registered increased confidence.

Selling price expectations picked up markedly in industry, services and retail. By contrast, consumer price expectations plummeted to an extent last seen in the financial crisis.

For European Commission data click on:

https://ec.europa.eu/info/business-economy-euro/indicators-statistics/economic-databases/business-and-consumer-surveys_en

(Brussels newsroom; Editing by Nick Macfie)

Recovery of euro zone economic sentiment gathers pace in June

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Check Also

Pelosi confident U.S. Congress will produce strong coronavirus relief bill

Coronavirus9 hours ago (Jul 09, 2020 02:05PM ET) (C) Reuters. FILE PHOTO: U.S. House Speaker …

Leave a Reply

Your email address will not be published. Required fields are marked *