Economic sentiment slightly falls in Europe

By Tuba Sahin

ANKARA (AA) – Economic sentiment in July dipped slightly on a monthly basis both in the eurozone and the EU28, the European Commission announced on Tuesday.

The Economic Sentiment Indicator (ESI) this month in the EU28 and the eurozone fell 0.3 points and 0.6 points, respectively.

The decrease in the eurozone stemmed from lower confidence in industry, services, retail trade and construction, the commission said.

It added that confidence improved slightly among consumers.

"Amongst the largest euro-area economies, the ESI rose in the Netherlands (+1.7), Italy (+1.4) and Spain (+0.6), while it decreased markedly in Germany (−2.4) and was unchanged in France," it said.

The index in the EU was at 102 points in July, down from 102.3 last month.

"In line with the euro area, industry confidence worsened markedly and consumer sentiment improved, while the deterioration of EU confidence in construction was less marked than in the euro area and more important in the retail trade sector," it highlighted.

The commission said that sentiment in the largest non-euro area member states the U.K. and Poland fell 0.8 points.