BRUSSELS (Dow Jones) – Economic sentiment in the euro zone has unexpectedly brightened in June, slightly. The on Tuesday by the European Commission published composite index to assess the economic development rose to 98.7 points from 98.4 the previous month. ( Reuters photo
Economists had expected but fell to 98.0 . For the whole of the European Union ( EU) for the indicator was an almost unchanged level of 100.1 (previous month : 100.2 ) points reported.
The aggregate index of economic sentiment includes the assessment of industrial , construction and service industries and consumer confidence and the development of retail trade in the EU.
For Germany , the index rose in June by 0.4 point to 106.2 points. In Italy, it increased by 1.4 points to 97.2 points. In Spain, pulled the index of economic sentiment up 2.3 points to 90.0 , but he had lain there in May on one of the lowest levels in the euro area. By contrast , the index broke out in France by 2.3 points to 96.6 . Even stronger was the decline in the UK from minus 3.0 points to 99.4 points.
The confidence of the industry in the euro area is declared as having been in June from the previous month to minus 6 points remained unchanged, while economists had expected a slowdown to an average minus 7th The Commission estimated the production expectations in industry remained stable, although the order was viewed more favorably . Across the Union , the industrial confidence clouded to minus 6 from an earlier minus 5, which was based on more pessimistic production expectations .
When consumer confidence for the common currency area , which accounts for 20% of the total index, named after the sharp drop in May for June, reported a slight improvement to minus 17 (previous month : minus 18). This was expected, confirms the preliminary estimate . According to the Commission, the concerns of consumers, weakened on the development from the labor and the general economic situation was assessed more positively. For the whole of the EU stagnated , the index of consumer confidence at minus 15 points.
The sentiment index for retail trade in the euro area remained unchanged in June to minus 6 from the previous month unchanged, while the index for services to plus 4 (plus 3 ) increased . The index for the construction industry fell to minus 30 ( minus 28 ) points.
In the industrial confidence was for Germany to improve to plus 2 ( minus 1 ) reports , while for France reported a decline to minus 16 ( minus 11). While consumer confidence in Germany remained unchanged at minus nine , it clouded over in France to minus 22 ( minus 21).
The confidence in the financial services sector , which is not included in the composite index was , according to the Commission in the euro area fell by one point. Across the EU, they slumped to seven points.
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