LONDON (ICIS)–The economic outlook in the EU
and eurozone improved in August on stronger
industry confidence and brighter employment
expectations.
The European Commission’s Economic Sentiment
Indicator (ESI) rose in both the EU (+0.4
points to 96.9) and eurozone (+0.6 points to
96.6), according to official data on Thursday.
This reflected improved confidence in industry,
services and retail trade, while confidence
among consumers and in construction remained
broadly stable.
Employment prospects rose more significantly in
both blocs following several months of decline,
with the Employment Expectations Indicator
(EEI) up 0.9 points to 99.6 in the EU and
higher by 1.3 points to 99.2 in the eurozone.
For the largest EU economies, the ESI improved
in France (+4.3); Spain (+1.3); the Netherlands
(+0.9); and Poland (+0.3). It declined in
Germany (-1.7); and Italy (-1.2).
The sharp uptick in France was likely due to
the Olympics being hosted in Paris, analysis
from Oxford Economics suggested.
