Economic Buzz: Eurozone Economic Confidence Falls To 104 In June

29 Jun 2022 , 02:46 PM

Eurozone economic confidence weakened to a 15-month low in June, reflecting the deterioration of morale among consumers and construction managers, survey results from the European Commission showed. The economic confidence index fell to 104.0 in June from 105.0 in May. The improvements in industrial and services confidence were offset by the falls in sentiment among consumers, retailers and construction managers. The industrial sentiment index advanced unexpectedly to 7.4 from 6.5 in the previous month. Similarly, the services confidence index improved to 14.8 from 14.1 a month ago, while the reading was seen falling to 12.5. Meanwhile, the consumer confidence index dropped to -23.6 in June, as initially estimated, from -21.2 in May. Construction confidence also weakened in June due to the sharp fall in employment expectations and a decline in the level of order books. The construction sentiment index plunged to 3.7 from 6.3. Likewise, the retail confidence index slid to -5.1 from -4.2 in the previous month. Powered by Commodity Insights