Economic sentiment worsens in Italy, Germany and France, but remains stable in Spain

In Spain, construction confidence improved from minus 40 to minus 33.5, as well as retail trade (by +3p to 9.0) and consumer confidence (by +0.6p to -6.4). Meanwhile, services confidence fell by 0.6p to +7.0 and the industry remained at -5.7.

In August 2014 the Business Climate Indicator (BCI) for the euro area remained flat (at +0.16) compared to July (+0.17). Managers’ more optimistic appraisals of past production and, to a lesser extent, export order books were offset by a marked decrease in their assessment of expected production. Managers’ views on the level of stocks of finished products and overall order bookes remained broadly unchanged.

 

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