Eurozone: consumer confidence unexpectedly improved in July

The results of the research, published by the European Commission showed that economic confidence in the euro area increased slightly in June, contrary to expectations of a moderate decline.

According to the data, the index of economic sentiment, which is a gauge of consumer and business confidence rose in July to 104.6 points compared with 104.4 points in June.

In addition, it was announced that the final index of sentiment among consumers fell in July from -7.2 points to -7.9 points, confirming the initial assessment and forecasts. The decline reflects the more negative assessment of the future general economic situation, unemployment and the future anticipated savings consumers.

Sentiment in the services sector rose to 11.1 from 10.9 in June (revised from 10.8). Analysts had expected a decline to 10.3. The increase was due to positive expectations of demand. Meanwhile, the index of business optimism in industry rose to -2.4 points to -2.8 points in June. It was expected that the index would fall to -3.4 points. Improved confidence was associated with a more optimistic assessment of the current stock of orders and stocks of finished products. Sentiment Index in the business community has improved to 0.39 points versus 0.22 points in June. Analysts predicted that the rate will fall to 0.17 points. sentiment index for the retail sector rose to 1.8 from 0.8 in June, which was associated with more positive views on the current and expected business situation. confidence index for construction reached -16.3 vs. -18.2 in June.