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Financial News: Eurozone Economic Confidence Weakens In July

Eurozone Economic Confidence Weakens In July

07/30/2018 - 06:04:00 (RTTNews)

(RTTNews) - Eurozone economic confidence continued to fall in July, survey data from European Commission showed Monday.

The economic sentiment index dropped to 112.1 in July from 112.3 in the previous month. The score matched economists' expectations.

Broadly unchanged euro-area sentiment resulted from decreases in industry and retail trade confidence, which were offset by an increase in the services sector.

The industrial confidence index decreased to 5.8 from 6.9 in the previous month. Meanwhile, the services sentiment index rose to 15.3 from 14.4 a month ago. The consumer confidence index held steady at -0.6 in July and in line with flash estimate. At the same time, the confidence index in construction fell to 5.4 from 5.6 in June. Another report from EU showed that the business confidence index dropped slightly to 1.29 from 1.38 in June.

Managers' appraisals of their overall and export order books worsened markedly, as well as their production expectations, while their views on the stocks of finished products edged down. By contrast, managers' assessments of past production improved.

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