Eurozone Economic Sentiment Indicator rose to 75.7 in June, up form 67.5, but missed expectation of 80.0. Nevertheless, the +8.2pts rise was still the largest month-on-month increase on record. ESI has recovered some 30% of the combined losses of march and April.

Looking at some details, industry confidence rose from -27.5 to -21.7. Services confidence rose from -43.6 to -35.6. Consumer confidence rose from -18.8 to -14.7. Retail trade confidence rose from -29.8 to -18.4. Construction confidence rose from -17.3 to -12.4.

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Also, Employment Expectations Indicator continued last month’s steep recovery and jumped from 70.1 to 82.8. Depending on the sector, employment plans have so far recovered some 40% to 60% of the recorded losses incurred in March and April.

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