The Economic Sentiment Indicator (ESI) rose in May in both zones according to the European Commission's Department of Finance and Economic Affairs. The ESI increased by 0.8% in the euro area and by 1.1% in the EU. Only construction reported a decrease with industry, services, consumer confidence and retail all reporting an increase in sentiment.
Another business and consumer confidence indicator, the Business Climate Indicator (BCI), also reported an increase in confidence. In May the BCI increased by 0.28% to -0.76%.
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