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EU:July 2008: Economic sentiment declines significantly in both the EU and the euro area

/noticias.info/ In July, the Economic Sentiment Indicator (ESI) declined sharply in both the EU and the euro area. It fell by 5.8 points in the EU and by 5.3 points in the euro area, to 88.7 and 89.5 respectively. In both regions, the ESI recorded its largest month-on-month decline since October 2001 to reach its lowest level since March 2003.
Economic sentiment indicator (s.a.)

EU: July 88.7

Euro area: July 89.5

[ Figures and graphics available in PDF and WORD PROCESSED ]

The confidence indicators fell in all sectors, although the decline was particularly pronounced in services. Confidence also worsened further among consumers.

Almost all countries reported a fall in sentiment in July. Among the large Member States, Italy and the UK registered significant drops (-9.6 and -7.2 respectively). Sentiment decreased also considerably in France (-4.7), Germany (-4.2) and the Netherlands (-3.9), while the decline was lower in Poland (-1.9). In Spain, following a drop of 6.2 points in June, sentiment recovered slightly (+1.2) but is still clearly below its long-term average.

According to the quarterly survey of manufacturing, carried out in July 2008, capacity utilisation decreased further between April and July in both the EU and the euro area. Nevertheless, at 82.8% and 82.9% respectively, it remains above its long-term average in both areas.

Industrial confidence indicator (s.a.)

EU: July -8

Euro area: July -8

[ Figures and graphics available in PDF and WORD PROCESSED ]




Service confidence indicator (s.a.)

EU: July 0

Euro area: July 1

[ Figures and graphics available in PDF and WORD PROCESSED ]



Consumer confidence indicator (s.a.)

EU: July -20

Euro area: July -20

[ Figures and graphics available in PDF and WORD PROCESSED ]



Retail trade confidence indicator (s.a.)

EU: July -11

Euro area: July -9

[ Figures and graphics available in PDF and WORD PROCESSED ]



Construction confidence indicator (s.a.)

EU: July -17

Euro area: July -14

[ Figures and graphics available in PDF and WORD PROCESSED ]

Financial services confidence indicator (n.s.a.)

EU: July 12

Euro area: July 13

[ Figures and graphics available in PDF and WORD PROCESSED ]

The next Business and Consumer Survey is due to be published on 29 August 2008.

Full tables are available on:

http://ec.europa.eu/economy_finance/db_indicators/db_indicators8650_en.htm notas_de_prensa_archivo