Press Release: August 2012: Economic sentiment declines further in both the EU and the euro area

In August the Economic Sentiment Indicator (ESI) decreased markedly by 2.0 points in the EU, to 87.0, and by 1.8 points in the euro area, to 86.1. In both areas, the loss in confidence was particularly strong among consumers, retail trade and construction managers. In the services sector the loss in confidence was marked in the euro area but more contained in the EU as a whole. On the contrary, while confidence in industry decreased in the EU, it remained broadly stable in the euro area.