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Economic sentiment continues in May to recover from historical lows

In May, the Economic Sentiment Indicator (ESI) for the EU and the euro area picked up for the second month in a row, albeit from a very low level and at a slower pace than in April, when a clear rebound was observed.

28 May 2009.

The ESI increased by 2.8 points in the EU, and by 2.1 points in the euro area, to 66.7 and 69.3 respectively.

This further increase in the ESI resulted from a clear improvement in sentiment in the retail sector which rose markedly in both regions (by 4 points in the EU and by 5 points in the euro area), followed by services (up 4 points in the EU and 1 point in the euro area). Industry registered a smaller increase (+2 and +1, respectively). Sentiment in both construction and among consumers, in contrast, declined in the EU (by 1 and 2 points respectively) and remained stable in the euro area.

Business and consumer surveys