Economic sentiment in the Eurozone fell more than expected in August as a drop in optimism in industry and services pressured the outlook, according to the data showed on Tuesday.
The European Commission’s monthly economic sentiment index fell to 97.6 points in August, compared to a downwardly revised 98.9 in July. The figure in August was lower than a 98.0 estimated by Reuters poll.
The sentiment continued to fall despite positive signals from consumers, retail and construction sectors.
In August, the consumer confidence improved to -24.9 from -27.0 in July, while retail trade improved to -6.3 from -7.1 in July.
Inflation expectations in the manufacturing sector also fell to 43.7 from 45.3 in July and from its peak in April at 59.3.