RTTNews - Eurozone economic sentiment improved for the third consecutive month in June, a survey from European Commission showed Monday. The economic confidence index stood at 73.3 in June, up from 70.2 in May and the expected reading of 71. However, the level stayed below the lows reached in the previous trough at the end of 1992.
While, services confidence climbed to minus 20 from minus 23 in May, industrial confidence rose slightly to minus 32 in June from minus 33 and consumer confidence stood at minus 25, up from minus 28. Confidence in the construction sector stayed stable at minus 34 in June. On the other hand, retailers' confidence weakened to minus 16 from minus 14.
The majority of Member States registered an improvement in June. Among the largest Member States, France and Germany recorded significant increases in economic sentiment.
At the same time, the business climate indicator for the euro area increased slightly to minus 2.97 in June from minus 3.11 last month.
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