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

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