Eurozone economic sentiment was largely unchanged in May, but it fell slightly in the EU.
- The European Commission’s Economic Sentiment Indicator (ESI) for the bloc rose to 105.0 from 104.9 in April. This compares with an average of more than 116 posted in the second half of 2021.
- In the entire European Union, the slight fall in the ESI was eased by weaker confidence among industry managers and consumers.
- Among the largest EU economies, the ESI increased significantly in Spain (+4.1), France (+1.5), and Italy (+0.8), while it remained largely unchanged in Germany (+0.2).
- Industry confidence in the euro area has deteriorated for the third month running as managers expected the current level of overall order books reported the sharpest decline in two years.
The employment expectations indicator improved slightly due to improved employment plans for the upcoming three months in services and construction.
EuroStoxx 50 up +0.88%, EURUSD up +0.35%
Source: European Commission
