Economic Buzz: Eurozone Economic Sentiment At 9-Month Low In May

Eurozone economic confidence dropped to 112.5 in May from 112.7 in April, survey results from European Commission revealed Wednesday. This was the lowest reading since August 2017 but above the expected score of 112.0. Decreases in industry and services confidence were largely offset by strong increases in the retail trade and construction sectors. The industrial confidence index came in at 6.8, down from 7.3 in April. Likewise, the indicator for services slid to 14.3 from 14.7. Meanwhile, the confidence index in retail trade rose to 0.7 from -0.7 a month ago and the construction sentiment index advanced to 7.0 from 4.6. The consumer confidence index dropped marginally to 0.2 from 0.3 in April.