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June 2017: Consumer confidence and economic sentiment improve markedly in both the euro area and the EU; Business Climate Indicator increases in euro area

In June 2017, the DG ECFIN flash estimate of the consumer confidence indicator increased markedly in both the euro area (+2.0 points to -1.3) and the EU (+1.1 points to -2.2).

date:  06/07/2017

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In June 2017, the DG ECFIN flash estimate of the consumer confidence indicator increased markedly in both the euro area (+2.0 points to -1.3) and the EU (+1.1 points to -2.2). Similarly, the Economic Sentiment Indicator (ESI) increased markedly in the euro area by 1.9 points (to 111.1), and the EU by 1.6 points (to 111.3), reaching the highest levels since August 2007. Improved euro-area sentiment resulted from marked increases in confidence in the industry, retail trade and construction sectors and among consumers and, to a lesser extent, from a slight increase in confidence in the services sector. The marginally less optimistic outcome for the EU ESI (+1.6) resulted from comparatively smaller improvements of sentiment in the largest non-euro area EU economies, the UK (+1.1) and Poland (+1.1). Meanwhile, the Business Climate Indicator (BCI) for the euro area increased (+0.25 points to +1.15). Managers’ assessments of the past production, overall and export order books and the stocks of finished products improved markedly. By contrast, managers’ production expectations remained virtually unchanged.