The economic sentiment indicator in the Euro Area declined to 96.5 in May 2023, from a revised 99.0 in the previous month and short of market expectations of 98.9. Morale hit its lowest level since November 2022, as the economy remained stagnant economy in the face of high inflation, and the rapid increase in interest rates. Sentiment deteriorated among manufacturers (-5.2 vs -2.8 in April), service providers (7.0 vs 9.9), retailers (-5.3 vs -0.9), and constructors (0.2 vs 0.9). On the other hand, confidence among consumers was little-changed (-17.4 vs -17.5). On the price front, the consumer inflation expectations index dropped to 12.2 in May, the lowest since October 2020, while the gauge for selling price expectations among manufacturers decreased to 6.6, the lowest since November 2020. Among the largest economies in the Euro Area, the ESI deteriorated in Spain (-3.0), Germany (-2.9), Italy (-2.3), and the Netherlands (-1.5), while it improved in France (+1.5). source: European Commission

Economic Optimism Index in Euro Area averaged 99.76 points from 1985 until 2023, reaching an all time high of 118.70 points in October of 2021 and a record low of 59.70 points in April of 2020. This page provides - Euro Area Economic Sentiment Indicator- actual values, historical data, forecast, chart, statistics, economic calendar and news. Euro Area Economic Sentiment Indicator - data, historical chart, forecasts and calendar of releases - was last updated on June of 2023.

Economic Optimism Index in Euro Area is expected to be 95.10 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Euro Area Economic Sentiment Indicator is projected to trend around 99.00 points in 2024 and 101.00 points in 2025, according to our econometric models.

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Euro Area Economic Sentiment Indicator



Calendar GMT Actual Previous Consensus TEForecast
2023-04-27 09:00 AM Apr 99.3 99.2 99.9 99.8
2023-05-30 09:00 AM May 96.5 99 98.9 99.1
2023-06-29 09:00 AM Jun 96.5 95.1


Related Last Previous Unit Reference
Consumer Confidence -17.40 -17.50 points May 2023
Economic Optimism Index 96.50 99.00 points May 2023
Consumer Confidence Price Trends 12.20 15.00 points May 2023

Euro Area Economic Sentiment Indicator
In the Euro Area, the Economic sentiment indicator is a composite measure (average=100) that calculates the confidence level among: manufacturers (40 percent of the index); service providers (30 percent); consumers (20 percent); retailers (5 percent) and constructors (5 percent).
Actual Previous Highest Lowest Dates Unit Frequency
96.50 99.00 118.70 59.70 1985 - 2023 points Monthly
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News Stream
Eurozone Economic Sentiment at 6-Month Low
The economic sentiment indicator in the Euro Area declined to 96.5 in May 2023, from a revised 99.0 in the previous month and short of market expectations of 98.9. Morale hit its lowest level since November 2022, as the economy remained stagnant economy in the face of high inflation, and the rapid increase in interest rates. Sentiment deteriorated among manufacturers (-5.2 vs -2.8 in April), service providers (7.0 vs 9.9), retailers (-5.3 vs -0.9), and constructors (0.2 vs 0.9). On the other hand, confidence among consumers was little-changed (-17.4 vs -17.5). On the price front, the consumer inflation expectations index dropped to 12.2 in May, the lowest since October 2020, while the gauge for selling price expectations among manufacturers decreased to 6.6, the lowest since November 2020. Among the largest economies in the Euro Area, the ESI deteriorated in Spain (-3.0), Germany (-2.9), Italy (-2.3), and the Netherlands (-1.5), while it improved in France (+1.5).
2023-05-30
Eurozone Economic Sentiment Below Forecasts
The economic sentiment indicator in the Euro Area came in at 99.3 in April 2023, little-changed from a revised 99.2 in the previous month and below market expectations of 99.9. An increase in morale among service providers (10.5 vs 9.6 in February), traders (-1.0 vs -1.5) and consumers (-17.5 vs -19.1) was partially offset by a decline in confidence among manufacturers (-2.6 vs -0.5). The sentiment indicator for the construction industry was unchanged at 1.0. On the price front, the inflation expectations index dropped to 15.1 in April, the lowest since December 2020, while the gauge for selling price expectations among manufacturers decreased to 12.0, the lowest since January 2021. Amongst the largest EA economies, the ESI improved in Spain (+3.7) and, to a lesser extent, in Germany (+0.8). While sentiment edged up also in Italy (+0.3), it deteriorated in the Netherlands (-1.6) and, particularly, in France (-4.2).
2023-04-27
Eurozone Economic Sentiment Slightly Down
The economic sentiment indicator in the Euro Area fell to 99.3 in March 2023, down from a revised 99.6 in the previous month and slightly below market expectations of 99.8. It was the second consecutive month of decline in confidence, as morale deteriorated among manufacturers, retailers and constructors. Elsewhere, sentiment among consumers and service providers was little-changed. On the price front, the inflation expectations index rose to 18.9 in March from February's two-year low of 17.7, while the gauge for selling price expectations among manufacturers decreased to 18.7, the lowest since February 2021. Amongst the largest EA economies, the ESI increased in Italy (+2.0), the Netherlands (+0.9) and France (+0.7), while it remained broadly unchanged in Spain (+0.1) and Germany (-0.1).
2023-03-30