The economic sentiment indicator (ESI) in the eurozone has increased to 75.7 points in June from 67.5 last month, which is the largest rise ever recorded, indicating the area's gradual recovery from the COVID-19 crisis, the press release by the European Commission's Directorate-General for Economic and Financial Affairs said on Monday
MOSCOW (Pakistan Point News / Sputnik - 29th June, 2020) The economic sentiment indicator (ESI) in the eurozone has increased to 75.7 points in June from 67.5 last month, which is the largest rise ever recorded, indicating the area's gradual recovery from the COVID-19 crisis, the press release by the European Commission's Directorate-General for Economic and Financial Affairs said on Monday.
"In June 2020, the recovery of the Economic Sentiment Indicator (ESI), which had tentatively started in May, intensified. Registering the sharpest month-on-month increase on record in the euro area (+8.2 points up to 75.7) and the EU (+8.1 points up to 74.8), the ESI in both regions has so far recovered some 30% of the combined losses of March and April," the press release said.
According to the press release, the ESI significantly recovered in all the largest eurozone economies. Namely, in France, the indicator grew by 9.4 points, the Netherlands saw an increase of 8.3 points, Spain and Italy gained 8.2 points each and the ESI in Germany rose by 6.6 points.
The European Commission noted that the overall ESI growth was driven by significant increases in confidence across all surveyed business sectors, including industry, services, retail trade and construction, and also among consumers.
