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Image header Agence Europe
Europe Daily Bulletin No. 11603
ECONOMY - FINANCE / (ae) economy

Economic sentiment in EU undermined by British referendum

Brussels, 28/07/2016 (Agence Europe) - The economic sentiment indicator fell in the EU in July, driven by a marked deterioration in the United Kingdom (-4.4) following the referendum in favour of Brexit, according to the figures published by the European Commission on Thursday 28 July.

Economic sentiment in the eurozone, on the other hand, was up by 0.2 points. In the eurozone, consumer confidence fell, but was offset by improved confidence in the sectors of industry, services, distribution and construction.

In the EU, confidence in all sectors, with the exception of construction, took a hit. Confidence was also down markedly in financial services in the EU, but was up in the eurozone. The business climate indicator, which refers to the current phase of the economic cycle, was up, to stand at 0.39 compared to 0.22, an increase of 0.17 points. (Original in French by Élodie Lamer)