A survey published by the European Commission revealed that economic sentiment in the Eurozone rose in August for the fourth consecutive month after a record decline stemming from lockdown measures aimed at slowing the spread of Covid-19 in March and April.<\/p>\n\n\n\n
And while the monthly index measuring confidence in the economy remained well below pre-crisis levels and its long-term average, it rose to 87.7 from 82.4 in July, above the 85-point average forecast by economists polled by Reuters.<\/p>\n\n\n\n
The new improvement, which confirms the economic recovery that began in May, was mostly driven by rising optimism in the services sector, the largest in the 19-nation bloc.<\/p>\n\n\n\n
Optimism remained in negative territory, but rose to -17.2 in August from -26.2 in July.<\/p>\n\n\n\n
Confidence in the manufacturing and retail sectors also increased, although factory managers’ expectations of production declined after three-month increases pushed them higher than pre-crisis levels.<\/p>\n\n\n\n
Consumer confidence registered a slight recovery to -14.7 points from -15.0, confirming an initial estimate published by the commission earlier this month.<\/p>\n\n\n\n
The survey revealed that consumer price expectations decreased, with a slight increase in the demand for making large purchases in the next twelve months, and a slight decrease in this large spending now.<\/p>\n\n\n\n
The employment outlook index continued to improve for the fourth month in a row, while confidence in the construction sector deteriorated slightly.<\/p>\n\n\n\n
Among the bloc’s largest economies, sentiment has improved significantly in France, the Netherlands and Germany. It also increased in Italy, but declined in Spain.<\/p>\n","protected":false},"excerpt":{"rendered":"
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