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Financial News: Eurozone Economic Confidence Weakens In August

Eurozone Economic Confidence Weakens In August

08/30/2018 - 05:41:00 (RTTNews)

(RTTNews) - Eurozone economic confidence deteriorated more-than-expected in August, survey results from European Commission showed Thursday.

The economic sentiment index dropped to 111.6 in August from 112.1 in July. The expected score was 111.9.

The decrease in the Eurozone sentiment indicator resulted from a marked deterioration of confidence among consumers and a milder decrease in the services sector, which were only partly offset by increases in the retail trade and construction sectors.

The industrial confidence index came in at 5.5 in August, in line with forecast, but down from 5.8 a month ago. Likewise, the services sentiment index slid to 14.7 from 15.3 a month ago.

The consumer confidence index declined to -1.9 from -0.5 in the previous month. The score came in line with flash estimate.

Another report from EU showed that the business climate index dropped to 1.22 in August from 1.30 in July.

Managers' appraisals of their overall order books and past production worsened markedly, while their views on export order books and the stocks of finished products merely edged down.

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