Eurozone Economic Sentiment Indicator rose strongly to 114.5 in May, up from 110.5, above expectation of 112.1. The index scored markedly above its long-term average and pre-pandemic level. It was close to December 2017 peak. Employment Expectations Indicator rose 2.9 pts to 110.1.
Eurozone industry confidence rose from 10.9 to 11.5. Services confidence rose from 2.2 to 11.3. Consumer confidence rose from -8.1 to -5.1. Retail trade confidence rose from -3.0 to 0.4. Construction confidence rose from 3.0 to 4.9.
EU ESI rose 4 pts to 113.9. The ESI is well above its long-term average, and rose markedly in all of the six largest EU economies, mostly so in Italy (+11.0), followed by Poland (+5.1), France (+5.0), the Netherlands (+3.2), Germany (+2.8) and Spain (+2.3).
