Eurozone Economic Sentiment Indicator rose to 119.0 in July, up from 11.79, above expectation of 118.8. That’s the highest level on record since 1985. Employment Expectations Indicator was flat at 111.7, well above pre-pandemic level.
Looking at some more details, Eurozone industrial confidence rose from 12.8 to 14.6, eighth straight month of improvement and an all-time high. Services confidence rose from 17.9 to 19.3, highest since 2007. Consumer confidence dropped from -3.3 to -4.4. Retail trade confidence dropped from 4.7 to 4.6. Construction confidence dropped from 5.2 to 4.0.
EU ESI rose 0.9 pts to 118.0. EEI was unchanged at 111.6. Amongst the largest EU economies, the ESI rose sharply in France (+4.0) and, to a lesser extent, in Italy (+1.7) and Spain (+1.7). Sentiment in Germany (+0.3) and the Netherlands (-0.3) stayed virtually unchanged, while it deteriorated mildly in Poland (-0.7).
