Eurozone Economic Sentiment Weakens In August

(RTTNews) - The Eurozone economic sentiment index deteriorated to 88.8 in August from 89.5 in July, according to the latest survey released by the European Commission on Friday. Economists had expected the index to drop to 89.3 in August.

Meanwhile, consumer confidence improved in August. The consumer confidence index rose slightly to minus 19 from July’s 20 and services confidence climbed to 3 from 1. On the other hand, industrial confidence weakened to minus 10 and the confidence in retail sector fell to minus 11.

Further, the business confidence dropped to minus 0.33 in August from a revised reading of minus 0.2 in July, suggesting that industrial activity remained subdued.

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Eurozone Economic Sentiment Weakens In August