Eurozone Economic Confidence Continued to Fall in July

Forex News

Economic sentiment across the euro area weakened in July, pulled down by less optimism in industry and the retail sectors, despite a better mood in services. A monthly survey of the European Commission showed the Eurozone economic sentiment indicator eased to 112.1 points in July form 112.3 in June, continuing a downward trend started since a peak of 115.2 last December.

Eurozone business climate indicator fell to 1.29 in July from 1.38 in June. Eurozone Industrial confidence indicator slipped to 5.8 from 6.9. Meanwhile, Eurozone Services sentiment improved to 15.3 in July from 14.4 in June, while consumer sentiment held stable at -0.6 points, high above the long-term average of -12.2.

A survey also showed, that consumer inflation expectations over the next 12 months grew to 18.0, close to the long-term average of 18.6. Selling price expectations in industry fell to 9.7 in July from 10.1 in June.