Press Release: May 2005 – the decline of economic sentiment in the EU and the euro area continues in May

In May 2005, the economic sentiment indicator (ESI) fell by 0.7 points in the EU and by 0.4 points in the euro area, continuing its almost uninterrupted decline since October of 2004. However, with the rate of the decline decelerating (EU: March: -2.4, April: -1.7, May -0.7; euro area: March: -1.3, April: -1.0, May: -0.4), it was thought that the indicator could see a stabilisation in subsequent months.