Economic Confidence has Leaped in the Eurozone

Economic confidence in the Eurozone has leaped. Economic confidence in the region has reached its peak in the last 21 years.

The recovery in economic confidence in the Eurozone continued in June as well. Accordingly, the economic confidence index for June rose to 117.9 with the impact of the reopening of economies. Thus, the peak of 21 years was recorded in the index. In May, the index was recorded as 114.5. The expectation of economists participating in the Bloomberg survey was that the index would be 116.5 in June. The stretching of the measures taken in the coronavirus pandemic brought a significant increase in service sector confidence. According to the data, service sector confidence, which was 11.3 in May, rose to 17.9. Economists' expectation about this data was 14.8. Although it did not make a leap as much as the service sector, an increase was observed in the industrial sector confidence. In June, the industrial confidence index in the Euro Area was 12.7. In May, the index came in as 11.5.

Confidence Rises in 5 of the 6 Biggest Countries

On a country-by-country basis, confidence in the 6 largest economies of the Eurozone increased in June. Confidence decreased only in Spain during this period.