Economic and business confidence slid again in the EU

Mexico.-Business and consumer confidence slid again in July, both in the Euro zone and throughout the whole European Union, as a consequence of deteriorated sentiment in all the economy’s sectors, the European Commission (EC) informed today. Among Euro partners, the indicator fell 2%, reaching 87.9 points, while among the twenty-seven countries the drop was 1.4%, to 89 points. “Confidence lost in services sector (-3.1 points) was the main responsible for the fall in the European Union, while in Euro zone the steepest drop was posted by industry (-2.2 points) and consumers (-1.7 points)”, Brussels explained in a press release. The sliding sentiment was strongest in three of the main European economies: -3.7 in Germany, -2.3 in France and -1.4 in Spain. The EC also disclosed last Monday the Business Environment Indicator in Euro Zone, which posted 0.32 points drop in July, to -1.27 points, pushed by a general deterioration in all of its components, mainly evaluation of past production and export perspectives. Source: Tabascohoy.com