Euro zone: Economic sentiment almost unchanged in May, inflation expectations are easing | Photo credit: Shutterstock
BRUSSELS, May 30 (Reuters) – The euro zone economic sentiment index was virtually unchanged in May as slightly higher optimism in services and among consumers offset a drop in confidence in manufacturing, according to official data released on Monday.
The index released by the European Commission shows economic sentiment in the 19 countries sharing the euro edged up to 105.0 in May from 104.9 in April, as economists and analysts polled by Reuters reported the expected an average of 104.9.
In industry, sentiment deteriorated to 6.3 points from 7.7 in April, but optimism in services, the eurozone economy’s largest sector, rose to 14 points against 13.6 the previous month. The consumer confidence indicator also improved from -22.0 in April to -21.1 in May.
The index measuring consumer inflation expectations, which hit a record high in March, continued to decline, falling from 50.0 in April to 45.6 in May. It also fell among producers, to 56.1, after hitting a record high of 60.0 in April.
(Report Jan Strupczewsk, French version Diana Mandiá, edited by Kate Entringer)