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MNI: EUROZONE DATA: Economic Sentiment Indicator.....>

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MNI: EUROZONE DATA: Economic Sentiment Indicator (May 2019) 
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- Economic Sentiment Indicator (ESI): 105.1; Prev (Apr): 103.9 (rev. from 104.0)
- Consumer: -6.5 (Apr: -7.3); Industry: -2.9 (Apr: -4.3); Services: 12.2 (Apr:
11.8); Retail: -1.2 (Apr: -1.1); Construction: 4.1 (Apr: 6.5)
- Eurozone economic sentiment rose in May for the first time in eleven months &
at the strongest pace since Jul 2017
- The only negative developments came in the form of a slight 0.1pp drop in
retail confidence and a cooling from already robust levels in construction
- In line with the flash estimate, consumer sentiment improved by 0.8pp, having
trended broadly higher since the start of the year
- After a sharp 2.7pt decline in Apr, industrial confidence recovered some
ground in May (+1.4pt), but Apr-May avg still remains 3.1pts below that of Q1
- In contrast, services sentiment (which rose for a second consecutive month in
May), averaged 0.5pp higher in Apr-May compared to Q1
- The survey provides a reassuring counterweight to disappointing May PMIs & Ifo

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