Euro zone economic sentiment experienced a sharper-than-anticipated decline in July, with optimism falling across all sectors.
The European Commission reported its economic sentiment index dropped to 99.0 points from 103.5 in June, significantly below the expected 102.0. Sentiment in industry decreased to 3.5 from 7.0, and services sentiment fell to 10.7 from 14.1.
Consumer confidence reached a new record low of -27.0, down from -23.8, exacerbated by rising inflation expectations. This broad-based deterioration is attributed to the ongoing war in Ukraine and persistent inflation.
Data sourced from public RSS feeds and News APIs.
