Forex

Eurozone economic sentiment rose to 75.7 in June, record mom rise

Eurozone Economic Sentiment Indicator rose to 75.7 in June, up form 67.5, but missed expectation of 80.0. Nevertheless, the +8.2pts rise was still the largest month-on-month increase on record. ESI has recovered some 30% of the combined losses of march and April.

Looking at some details, industry confidence rose from -27.5 to -21.7. Services confidence rose from -43.6 to -35.6. Consumer confidence rose from -18.8 to -14.7. Retail trade confidence rose from -29.8 to -18.4. Construction confidence rose from -17.3 to -12.4.

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Also, Employment Expectations Indicator continued last month’s steep recovery and jumped from 70.1 to 82.8. Depending on the sector, employment plans have so far recovered some 40% to 60% of the recorded losses incurred in March and April.

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