Consumers and entrepreneurs’ confidence in the Spanish economy rebounded in August to its highest level in 14 years, according to the Economic Sentiment Indicator (ESI) prepared monthly by the European Commission (EC). This index rose to 110.4 points in August from 108.7 in July.
By business sectors, the confidence indices improved particularly in industry (from -0.9 to 1.6 points), in services (from 18.7 to 20.0) and in construction (from -30.0 to -21.5). Retail trade confidence fell slightly (from 13.7 to 13.5), as well as consumer confidence (from 0.0 to -1.3).
In the Euro Area the Economic Sentiment Indicator rose a notch (+0.2 points to 104.2).
The tentative increase in euro area sentiment resulted from worsened confidence in industry being offset by improvements in other business sectors (construction, services and, in particular, retail trade) and marginally higher consumer confidence.
Amongst the largest euro-area economies, the ESI also rose in France (+0.9); by contrast, sentiment edged down in Germany (-0.2) and the Netherlands (-0.3) and saw a somewhat more noticeable downward correction in Italy (-0.6).