RTTNews - Eurozone economic sentiment improved for the second straight month in May, a survey from the European Commission showed Thursday. The index rose to 69.3 in May from 67.2 in April. The index stood above the expected reading of 69.
The increase in the confidence index was driven by a clear improvement in sentiment in the retail sector which rose markedly to minus 15 from minus 20 in April. Confidence in industrial and services rose by 1 point each to minus 34 and minus 23, respectively. Meanwhile, consumer confidence remained unchanged at minus 31 in May.
A separate survey from the European Commission revealed that business confidence rose slightly to minus 3.17 in May from minus 3.26 last month. Economists were expecting a reading of minus 3.1.
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