Press Release: June 2011: Economic sentiment down in both the EU and the euro area

In June, the Economic Sentiment Indicator (ESI) declined by 1.0 point to 104.4 in the EU and by 0.4 points to 105.1 in the euro area. The overall decline in the EU resulted from weakening confidence in industry and services, while sentiment among consumers, in services, retail trade, and construction remained broadly stable.

In the euro area, a worsening of sentiment in industry was partly compensated for by gains in services and construction, while confidence in retail trade and among consumers was broadly unchanged. Among the largest Member States , the Netherlands (-3.8 points), the UK (-2.2), Poland (-1.0), France (-0.9) and Germany (-0.6) reported decreases, while the ESI improved in Spain (+2.6) and Italy (+1.8). The ESI remains above its long-term average in Germany and France.