FOREX TradingCharts.com

Financial News: Eurozone Economic Sentiment At 1-Year Low

Eurozone Economic Sentiment At 1-Year Low

08/30/2018 - 08:27:00 (RTTNews)

(RTTNews) - Eurozone economic confidence deteriorated more-than-expected to one-year low in August on political and global trade concerns, a closely watched survey revealed Thursday.

The economic sentiment index dropped to 111.6 in August from 112.1 in July, data from European Commission showed. The expected score was 111.9. A similar lower reading was last reported in August 2017.

A cruising speed of 0.4 percent GDP growth in the euro area now looks like the best case scenario as global economic and political concerns cause Europeans to be less optimistic by the month, Bert Colijn, an economist at ING said.

According to EU survey, the decrease in the economic sentiment indicator resulted from a marked deterioration of confidence among consumers and a milder fall 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. Managers' more optimistic production expectations were almost offset by the worsening assessment of the current level of overall order books and the stocks of finished products.

Likewise, the services sentiment index slid to 14.7 from 15.3 a month ago. The slight deterioration resulted from managers' significantly lower demand expectations and slightly worse assessments of the past business situation.

The consumer confidence index declined to -1.9, as initially estimated, from -0.5 in the previous month, mainly due to a deterioration in consumers' assessment of the future unemployment.

Meanwhile, the confidence index in the retail sector rose to 1.7 from 0.3 a month ago. This marked rise was fueled by more positive views on the present business situation and the adequacy of the volume of stocks.

The increase in construction confidence to 6.4 from 5.4 in July, resulted from upward revisions in both managers' employment expectations and their assessment of the level of order books.

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.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2018 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


SECO Raises Swiss GDP Growth Outlook (40 min(s), 25 sec(s) ago)
(RTTNews) - The Swiss federal government's expert group raised its growth outlook for 2018 but ...Full Story»

Europe's Passenger Car Registrations Increase: ACEA (01 hr(s), 22 min(s), 25 sec(s) ago)
(RTTNews) - Europe's passenger car registrations increased at faster rates in July and August, ...Full Story»

Australia Westpac Leading Index Signals Slowing Growth Momentum (02 hr(s), 03 min(s), 25 sec(s) ago)
(RTTNews) - Australia's leading index signaled a slowing growth momentum into the second half ...Full Story»

European Economics Preview: UK Inflation Data Due (02 hr(s), 31 min(s), 25 sec(s) ago)
(RTTNews) - Consumer and producer prices from the UK and current account from euro area are due on ...Full Story»

Malaysia's Inflation Eases More Than Forecast (02 hr(s), 55 min(s), 25 sec(s) ago)
(RTTNews) - Malaysia's inflation eased more-than-expected in August on fuel cost, figures from ...Full Story»

BoJ Maintains Monetary Stimulus (03 hr(s), 18 min(s), 25 sec(s) ago)
(RTTNews) - The Bank of Japan kept its ultra-loose monetary policy unchanged, as widely expected, ...Full Story»

Japan Has Y444.594 Billion Trade Shortfall (34 min(s), 35 sec(s) ago)
(RTTNews) - Japan posted a 444.594 billion yen trade deficit in August, the Ministry of Finance sa ...Full Story»

New Zealand Q2 Current Account Deficit NZ$2.7 Billion (34 min(s), 35 sec(s) ago)
(RTTNews) - New Zealand's seasonally adjusted current account deficit fell to NZ$2.7 billion f ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

SECO Raises Swiss GDP Growth Outlook

09/19/2018 - 03:00 AM (RTTNews)
(RTTNews) - The Swiss federal government's expert group raised its growth outlook for 2018 but ...Full Story>>

Europe's Passenger Car Registrations Increase: ACEA

09/19/2018 - 02:18 AM (RTTNews)
(RTTNews) - Europe's passenger car registrations increased at faster rates in July and August, ...Full Story>>

Australia Westpac Leading Index Signals Slowing Growth Momentum

09/19/2018 - 01:37 AM (RTTNews)
(RTTNews) - Australia's leading index signaled a slowing growth momentum into the second half ...Full Story>>

European Economics Preview: UK Inflation Data Due

09/19/2018 - 01:09 AM (RTTNews)
(RTTNews) - Consumer and producer prices from the UK and current account from euro area are due on ...Full Story>>

Malaysia's Inflation Eases More Than Forecast

09/19/2018 - 00:45 AM (RTTNews)
(RTTNews) - Malaysia's inflation eased more-than-expected in August on fuel cost, figures from ...Full Story>>

Binary Options Articles Courtesy of NADEX

These pages, and all content ©TradingCharts.com Inc and other copyright holders. Permission is not granted to redistribute charts, data, news or other information found on this site, in any manner. Although it is believed that information provided is accurate, TradingCharts will not accept liability for any loss or damage that may arise from use of the content, inability to access the website, or delay or failure of receive of any information provided through this site.