economic sentiment in the euro area rose in August for the fourth month in a row, according to a survey published by the European Commission, after it witnessed a record decline during the months of March and April due to isolation measures Related to the spread of Coronavirus.
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 points from 82.4 in July, More than an average of 85 points predicted by economists polled by Reuters.
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. Optimism remained in negative territory, but rose to -17.2 in August from -26.2 in July.
confidence in the manufacturing and retail sectors has also increased, although factory managers' expectations for production have declined after three-month increases pushed them above pre-crisis levels .
Consumer confidence recovered slightly to -14.7 points from -15.0, confirming preliminary estimates published by the commission earlier this month.
The survey revealed that consumer price expectations have decreased, with a slight increase in the demand for making big purchases in the next twelve months, and a slight decrease in this currently big spending.
and an indicator of employment prospects continued to improve for the fourth month in a row, while confidence in the construction sector deteriorated slightly.
And among the largest economies of the bloc, sentiment has improved significantly in France, the Netherlands and Germany. It also rose in Italy but declined in Spain.
(Amazon fun knowledge)
