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Financial News: Eurozone Economic Confidence At 9-Month Low

Eurozone Economic Confidence At 9-Month Low

05/30/2018 - 05:40:00 (RTTNews)

(RTTNews) - Eurozone economic sentiment weakened to a 9-month low in May, survey results from European Commission revealed Wednesday.

The economic confidence index dropped to 112.5 in May from 112.7 in April. This was the lowest reading since August 2017 but above the expected score of 112.0.

Decreases in industry and services confidence were largely offset by strong increases in the retail trade and construction sectors.

The industrial confidence index came in at 6.8, down from 7.3 in April. Likewise, the indicator for services slid to 14.3 from 14.7.

Meanwhile, the confidence index in retail trade rose to 0.7 from -0.7 a month ago and the construction sentiment index advanced to 7.0 from 4.6.

The consumer confidence index dropped marginally to 0.2 from 0.3 in April.

The business confidence index rose marginally to 1.45 in May from 1.39 in April. Managers' appraisals of their overall and export order books improved markedly, while their assessment of past production remained virtually unchanged.

By contrast, managers' production expectations worsened substantially as did, to a lesser extent, their appraisals of the stocks of finished products, survey showed.

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