European Commission Sees Economic Confidence Increasing Further

Economic confidence in the eurozone increased further in May. Researchers from the European Commission report this based on their own indicator.

 

This improvement is mainly due to increased optimism among companies in the service sector, including the hotel and catering industry and retailers.

They have suffered the longest from forced closures due to lockdowns but are looking forward to better times with the increased vaccination coverage and relaxation.

The gauge of the European Commission’s economic sentiment in the eurozone rose by 4 points to 114.5. Economic confidence in the entire European Union also rose by 4 points. Both barometers for the economic mood are therefore close to their highest level ever in December 2017.

In addition to the services sector, the outlook in the industry was also better. Furthermore, consumer confidence is increasing, and employers expect to hire more people again.

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