The recovery of the Economic Sentiment Indicator (ESI), which had tentatively started in May, intensified in June, according to a statement from the European Commission.
Registering the sharpest month-on-month increase on record in the euro area (+8.2 points up to 75.7) and the EU (+8.1 points up to 74.8), the ESI in both regions has so far recovered some 30% of the combined losses of March and April.
Also the Employment Expectations Indicator (EEI) improved sharply for the second month in a row (by 12.7 points to 82.8 in the euro area and by 11.9 points to 82.7 in the EU).
Importantly, the Employment Expectations Indicator continued last month’s steep recovery (+12.7) thanks to markedly improved employment plans in all sectors.
Depending upon the sector, employment plans have recovered 40-60 percent of job losses incurred in March and April.
Retail trade confidence bounced back (+10.4), as did selling price confidence.
Consumer confidenced continued to rise (+4.1) as households looked forward to improved financial conditions.
