Business and consumer confidence in the Eurozone declined in July, but less than forecast
The composite index of business and consumer confidence in the Eurozone economy in July 2018 fell to 112.1 from 112.3 points in the previous month, according to the European Commission.
The July value of the indicator was the lowest since August 2017. At the same time, experts on average expected a little more significant reduction – up to 112 points, according to Trading Economics.
The index has been falling for seven months in a row, and trade disputes remain a major factor weakening the confidence in the European economy on the part of both business and consumers.
Consumer confidence in the Eurozone remained at minus 0.6 points in July, the lowest level in 8 months.
The business climate indicator this month fell to 1.29 points from 1.38 points a month earlier. Analysts on average had estimated its value this month at the level of 1.35 points.
The confidence of European industrial companies decreased from 6.9 to 5.8 points instead of the expected 6.7 points.
On the contrary, the confidence index in the service sector rose from 14.4 to 15.3 points, the highest since March. The consensus forecast assumed its weakening to 14.2 points.