Spain's economic confidence indicator worsened in May with a score of 100.5 – three points lower than in April and the biggest month-on-month drop among the large economies of the European Union, according to the European Commission's Eurozone Economic Sentiment.
This is due to worse forecasts in industry, consumption and retail trade, although the services sector remained virtually stable and construction improved. Even so, the fact that the figure is above 100 is tantamount to an optimistic diagnosis.
Confidence in the eurozone also worsened by 2.5 points to 96.5 from 99 the previous month, its worst reading in six months.
In the European Union (EU) as a whole, the index has also fallen to 95.2 points from 97.1 in April due to the weakening of confidence in the industrial sector, services and, more specifically, retail trade.
Among the main EU economies, only Poland (+1.9 points) and France (+1.5) recorded improved confidence, while the index worsened in Spain (-3), Germany (-2.9), Italy (-2.3) and the Netherlands (-1.5).
On the other hand, the European Commission reported that the Employment Expectations Index in the EU fell in May to 104 points from 106.2 last month and 108 at the beginning of the year, while in the eurozone it was 104.7 in May, down from 107.5. However, in Spain, this indicator has climbed to 106.9 points this month, 1.7 points more than in April.
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