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

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MNI: EUROZONE DATA: Economic Sentiment Indicator (Jun 2019) Preview - 10:00 BST
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- Bloomberg Consensus: 104.8; MNI Median: 104.7; Prev (May): 105.1
- The ESI rose for the first time in eleven months in May, but markets look for
it to resume its downtrend in Jun...
- ... with an expected 0.3pt decline to leave the Q2 avg 1.4pts below Q1's 106.0
- Flash consumer confidence (20% of the ESI) eased from May's nine-month high...
- ... falling by 0.7pts to -7.2 in Jun (well below its peak of -2.8 in Dec
2017), leaving Q2's avg unchanged from Q1 at -7.0
- Although the flash PMI survey showed the Eurozone manufac PMI edging slightly
higher in Jun (up 0.1pt to 47.8)...
- ... it remains in contraction territory and the details of the survey revealed
further sharp falls in new orders & output
- As such, the EC industrial sentiment indicator (which at 40% accounts for the
largest share of the overall ESI) could resume declining in Jun... 
- ... after having risen for the first time in six months in May

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