May 14, 2021

Confidence grows in the eurozone and Spanish economy in June



The confidence of consumers and entrepreneurs in the economy grew last June by 8.2 points both in the eurozone and in Spain to reach, respectively, 75.7 and 81.3 integers over a long-term average of 100 points, reported this Monday the European Commission (EC).

According to the Economic Sentiment Indicator (ISE) published by the EC, confidence also increased 8.1 points among consumers and entrepreneurs in the whole of the European Union (EU), to 74.8 points.

This is the second increase in the ISE since last March, with the entry of the containment measures caused by the coronavirus pandemic, the indicator fell from 105 points registered in February 2020 in the eurozone to 58.9 registered in April.

Last May, consumer and business confidence in the eurozone economy reached 70.1 points.

Likewise, the indicator of employment expectations (ERA) improved notably for the second consecutive month: it added 12.7 points in the eurozone, reaching 82.8, and 11.9 points in the EU, reaching 82.7.

In Spain, the EEI indicator grew from the 78 points registered in May to 87.2 in June.

In the euro area, the ISE recovery was fueled by significant confidence gains across all surveyed business sectors, i.e. industry, services, retail and construction.

However, the biggest gain, which offsets around a third of the combined losses during March and April, was in retail, which added 10 points.

This contrasts with last month, when I had only seen a significant improvement (5 points) in the industry.

Country by country, the ISE registered higher growth in France (9.4 points more), the Netherlands (8.3 points), Spain and Italy (both 8.2 points), and Germany (6.6 points), and it only fell 4.9 points in North Macedonia, 0.9 points in Greece and 0.1 in Malta and Montenegro.

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