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Economic confidence falls again in June, CPI outlooks ease

EUROZONE DATA

MNI: EUROZONE JUN ECO SENTIMENT 95.3; (FCAST 95.7); MAY 96.4

EUROZONE JUN CONSUMER CONF 16.1; (FLASH -16.1); MAY -17.4

  • Economic confidence declined again in June to 95.3, with all surveyed categories falling, although the extent of the overall decline (-1.1) moderated from that seen in May (-2.6).
  • The decline in June was led by industry and to a lesser extent services and construction.
  • Consumer confidence improved by 1.3pp in June, after edging up 0.1pp in May. Consumers expectations for the general economic situation were more upbeat and they were also more positive about their household's financial situation, both over the last year and their expectations for the next 12 months.
  • On a positive note for Eurozone inflation expectations, selling price expectations fell again in all surveyed business sectors, with a fifth consecutive monthly fall in services selling price expectations (from 18.7 in May to 16.1 in June).
  • Consumers' perceptions of price developments for the next 12 months showed a pronounced decline from 12.1 in May to 6.1 in June. This compares to a record high of 63.7 in March 2022.

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