Eurozone Economic Sentiment Indictor dropped from record high of 119.0 to 117.5 in August, below expectation of 118.6. Employment Expectations Indictor rose 1.2 pts to 112.8, hitting the highest level since November 2018. Looking at some more details, industry confidence dropped from 14.5 to 13.7. Services confidence dropped from 18.9 to 16.8. Consumer confidence dropped from -4.4 to -5.3. Retail trade confidence rose from 4.4 to 4.6. Construction confidence rose from 4.0 to 5.5.
EU ESI dropped -1.5 pts from record high 118.0 to 116.5. Amongst the largest EU economies, the ESI fell sharply in France (-4.5) and in the Netherlands (-3.0), and to a lesser extent, in Italy (-1.9), Poland (-1.7) and Spain (-1.2). Sentiment in Germany (-0.3) was virtually unchanged. Employment Expectation Indicator rose 1.0 pts to 112.6, highest since November 2018.
