Economic confidence in the euro area suffers the first fall of the year in August
The indicator on economic confidence data stood at 117.5 points in the Euro zone. Nations like France and the Netherlands are hit the hardest
Confidence in the evolution of the euro zone economy registered a moderate correction in August from the maximum of the last 21 years registered last July. It represents the first setback in the figure so far this year, before supply chain problems and outbreaks of infections, as reflected in the economic sentiment indicator (ESI), prepared by the European Commission.
In August, the confidence data for the euro zone stood at 117.5 points, compared to 119 for July, while for the European Union (EU) as a whole it fell to 116.5 points from 118 of the previous month.
Among the 27 group, the deterioration of the economic confidence indicator reflects the lower optimism observed in services and industry, as well as among consumers, while it was practically unchanged in retail trade and rebounded in construction.
In the case of the largest EU economies, the ESI has fallen sharply in France, with a decline to 111.9 points from 116.4, and in the Netherlands, where it has fallen to 110.4 from 113.4 points. In Italy it has fallen 1.9 points, to 117.7 points, and in Spain it has fallen 1.2 points, to 107.7 integers. On its side, in Germany it has fallen 0.3 points, to 11.7.2 integers.
In Spain, the deterioration of the economic confidence indicator in August reflects less optimism in industry and services, while confidence readings rose among consumers, retail and construction.
On the other hand, the European Commission has reported that the employment expectations index (EEI) has increased in August to 112.6 points from 111.6, in the whole of the European Union, while in the euro zone It has risen to 112.8 from 111.6 in July, reaching its best reading since November 2018 in both regions.
Source: dpa
