May — MNI analysts survey — April Revised
lowest median highest from
————————————————————————
Econ Sentiment 98.4 97.9 100.2 101.5 100.6 —
Industry -6 -9 -7 -5 -7 —
Services +3 na na na +6 +5
Consumers -18 -20 -18 -16 -15 —
Retail -5 na na na -1 —
Construction -28 na na na -25 —
————————————————————————
Business Climate: +0.34 na na na +0.28 +0.23
PARIS (MNI) – Economic morale in the Eurozone eroded more than
generally expected in May, with declines in all sectors except industry,
the European Commission said Monday.
After an almost steady recovery from a record low of 68.0 in March
2009, the Commission’s sentiment indicator fell 2.2 points in May to
98.4, retracing most of the jump in April.
The sovereign debt crisis and the intensification of austerity
programs in many Eurozone countries have weighed on medium-term growth
prospects, even in Germany, and the Commission’s survey suggests that
the fallout for the real economy may be felt in the coming months.
For example, confidence in financial services, which is not
included in the ESI, deteriorated by four points. Managers were
particularly worried about the business situation. While their
assessment of past evolution of demand improved, they where pessimistic
about the future.
But sentiment in other sectors as well eroded markedly in May, led
by retailing. With consumer sentiment weakening, this will further weigh
on domestic demand.
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–Paris newsroom +331 4271 5540; e-mail: stephen@marketnews.com
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