The economic mood in the euro zone surprisingly improved in July.
The Economic Sentiment Indicator (ESI) rose by 1.6 points to 95.8 points for the previous month, as the European Commission announced on Wednesday in Brussels. Experts had expected an increase in the mood indicator, but on average only 94.5 points. Despite the increase, the ESI is still below the long -term average of 100 points.
There was a better atmosphere in the industrial companies in July and the service providers. In addition, the mood in the area of retail was brightened, while it slightly clouded in the construction industry.
With a view to the largest economies in the euro area, the economic mood in Germany, France and Spain has improved significantly. In Italy, the corporate mood also brightened, but the improvement was only comparatively easy.