Economic confidence dropped by 0.3 points in August in the European Union and 0.5 points in the Eurozone due to a feeling of uncertainty that has spread to consumers and businesses, according to a report published yesterday by the European Commission.
“Among the main EU economies, the Economic Sentiment Indicator fell considerably in Spain (down 2.6), with more moderate deteriorations in Germany (1) and Italy (1). In contrast, it increased significantly in the Netherlands (up 3.5) and also slightly in Poland (0.5). In France, it remained practically unchanged,” the Commission stated in a note prepared by the Directorate-General for Economic and Financial Affairs.
Overall, the decrease in the confidence index from 95.7 in July to 95.2 in August was an unexpected surprise, as the market had anticipated a rise to 96 points.