Spain distances itself from the deterioration of economic confidence in the EU and the euro zone, according to Brussels

MADRID, 30 Ago. (EUROPA PRESS) -

Economic confidence in the euro zone and the European Union has worsened again in August, according to the economic sentiment indicator (ESI) prepared by the European Commission, which highlights the rebound registered, however, in Spain, which experienced the best evolution of the data among the large economies of the Twenty-seven.

"Among the largest EU economies, the ESI deteriorated in France (-2.5), Germany (-2.4) and Italy (-1.1), while it improved in Spain (1.5) and Poland ( 1.2). Confidence in the Netherlands remained broadly unchanged (0.2)," the Commission explained.

In the case of Spain, the economic confidence indicator rose in August to 102.4 points from 100.9 the previous month, its best reading since April and the largest monthly increase among the main EU economies.

This rebound reflects the improvement in confidence in the services sector, with a reading of 15.4 points in August, the highest since June 2022, as well as the highest confidence in industry, with a reading of -6.5 points , compared to -9.6 in July.

On the other hand, confidence has worsened among consumers, with a reading of -14.8, compared to -11.6 in July, as well as in retail trade, with 1.7, compared to 7 points, and in the construction, with 0.9 from 13.5.

In the EU as a whole, economic confidence fell in August for the seventh consecutive month, with an ESI reading of 92.9 points, compared to 93.5 in July, while the data for the euro area fell for the fourth consecutive month, up to 93.3 integers from 94.5 the previous month.

In the case of the euro zone, the drop in the economic confidence indicator reflects the deterioration observed in industry, as well as in services and among consumers, retail trade and construction.