Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
Reporting on key macro data at the time of release.
Real-time insight on key fixed income and fx markets.
- Emerging MarketsEmerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
- MNI ResearchMNI Research
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
- About Us
Sign up now for free access to this content.
Please enter your details below and select your areas of interest.
Economic Sentiment Indicator (ESI): 119.0; Prev (Jun): 117.9
Consumer: -4.4(Jun: -3.3); Industry: +14.6 (Jun: +12.8); Services: +19.3 (Jun: +17.9); Retail: +4.6 (Jun: +4.7); Construction: +4.0 (Jun: +5.2)
- The EZ ESI rose 1.1pt to 119.0 in July, coming in stronger than markets expected (BBG: 118.5).
- The index rose to the highest level since records began in 1985 and recorded the sixth consecutive gain.
- Jul's increase was led by the industrial and service sector, which rose by 1.8pt and 1.4pt, respectively.
- Industrial sentiment recorded a new all-time high, while the service sector posted the highest level since 2007.
- The other three sub-indicators saw a monthly decline in Jul, with consumer sentiment dropping 1.1pt, while retail trade confidence was down 0.1pt.
- Confidence in the construction sector eased by 1.2pt in July, marking a three-month low.
- The report noted that Jul's improvement was weaker than in previous months, suggesting that the index is approaching its peak.
- The ESI rose markedly in France (+4.0pt) and Italy and Spain (both up +1.7pt) and ticked up as well slightly in Germany (+0.3pt), while the headline index fell in the Netherlands (-0.3pt) and Poland (-0.7pt).
- The employment expectations index remained at Jun's level of 111.7 in Jul, which is the highest level since Nov 2018.
Source: European Commission