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EZ ESI Sees Further Recovery in Aug

EUROZONE DATA
MNI (London)
Economic Sentiment Indicator (ESI): 87.7; Prev (Jul): 82.4

Consumer: -14.7(Jul: -15.0); Industry: -12.7 (Jul: -16.2); Services: -17.2 (Jul: -26.2); Retail: -10.5 (Jul: -15.1); Construction: -11.8 (Jul: -11.4)


  • The ESI improved further and ticked up 5.3pt in Aug, beating market expectations looking for an uptick to 85.
  • The report notes that both regions (EZ and EU) have made up about 60% of the combined losses of Mar and Apr.
  • Among the largest economies, France (+9.3pt), the Netherlands (+7.1pt), Germany (+5.9pt) and Italy (+2.7pt) saw the largest gains, while Spain's index declined by 2.5pt.
  • Aug's increase was driven by a sharp rise in service sentiment, up 8.9pt, followed by retail trade confidence which edged up 4.8pt
  • Manufacturing sentiment improved 3.5pt, while confidence in the construction sector gained 0.8pt
  • Consumer sentiment registered in line with the flash result showing a small uptick by 0.3pt
  • Despite the recent increases, all sub indicators remain well below their pre-covid levels in Aug
MNI London Bureau | +44 203-865-3814 | irene.prihoda@marketnews.com
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