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Sentiment in the Eurozone is at a 3-year high

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Friday, data showed that economic sentiment in the euro area improved more than expected, reaching its highest level in three years in May, as the largest increases were in the services and retail sectors and among consumers as governments eased restrictions associated with the pandemic.
The European Commission’s index of economic sentiment rose to 114.5 in May from 110.5 in April, beating expectations in a Reuters poll for an improvement to 112.1. This is the highest level for the index since January 2018.
Optimism in the services sector, which constitutes two-thirds of the Euro-zone economy, was the most optimistic, rising to 11.3 points from 2.2, far higher than expectations for an increase to 7.5.
Sentiment in the retail sector rose to 0.4 from -3.0, as many stores reopened after the lockdown measures.
Consumer sentiment rose to -5.1 from -8.1 in April, in a move well above the long-term average of -11.0.
Sentiment in the manufacturing sector was at an all-time high, and the construction sector also registered an increase.
(Reuters) Sentiment in the euro zone is at a 3-year high
Friday, data showed that economic sentiment in the euro area improved more than expected, reaching its highest level in three years in May, as the largest increases were in the services and retail sectors and among consumers as governments eased restrictions associated with the pandemic.
The European Commission’s index of economic sentiment rose to 114.5 in May from 110.5 in April, beating expectations in a Reuters poll for an improvement to 112.1. This is the highest level for the index since January 2018.
Optimism in the services sector, which constitutes two-thirds of the Euro-zone economy, was the most optimistic, rising to 11.3 points from 2.2, far higher than expectations for an increase to 7.5.
Sentiment in the retail sector rose to 0.4 from -3.0, as many stores reopened after the lockdown measures.
Consumer sentiment rose to -5.1 from -8.1 in April, in a move well above the long-term average of -11.0.
Sentiment in the manufacturing sector was at an all-time high, and the construction sector also registered an increase.
(Reuters)

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