EU economic sentiment sags in May after near ten-year peak in April

EU economic sentiment sags in May after near ten-year peak in April

In May, euro zone economic sentiment edged down from an almost 10-year-peak in April versus expectations for an ascend because confidence mostly sank in services, as European Union data disclosed on Tuesday.

According to te European Commission's monthly poll, the overall index for the 19-country currency bloc went down to 109.2 from an upwardly revised April’s outcome of 109.7. Financial experts surveyed by Reuters had hoped for a soar to 110.0 points.

In May, a separate business confidence indicator, tracking the phase of the business cycle, edged down to 0.90 from an upwardly revised April’s outcome of 1.10, versus market hopes for a soar to 1.11.

The sag in market sentiment was mostly powered by decreasing optimism in the services sector, the largest in the euro zone that went down to 13.0 in May from April’s reading of 14.2.

Confidence in the retail sector went down to from 3.1 to 2.

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