Gloomy UK drags down economic confidence in the EU

first_imgTuesday 28 May 2019 12:57 pm Economic sentiment in the UK fell dramatically in May as confidence in the industry sector hit its lowest level in 11 months, according to figures from the European Commission.Read more: UK business confidence lowest since 2012, says BDO Read more: Eurozone sees weak growth in May amid stagnant demandHe added: “But it is not enough to fully reverse its fall in April, and does not change our view that economic growth probably dropped back to around 0.2 per cent quarter on quarter in the second quarter.” Harry Robertson Tags: Trading Archive British gloom held down sentiment in the European Union as a whole, with the Commission’s economic sentiment indicator (ESI) remaining broadly stable in May at 103.8. A score of over 100 is above the long-term average.The Eurozone’s score of 105.1 in May marked the first rise in sentiment for the currency area in 11 months, which had fallen from 111.8 in June 2018 to 103.9 in April in the Commission’s monthly surveys.Europe’s economies have struggled in recent months amid a raging US-China trade war, ongoing Brexit negotiations, and a slowdown in Germany, the continent’s biggest economy.Britain registered a sentiment score of 94.5 in May, below the long term average and 4.8 points lower than April’s figure.Confidence fell in each one of Britain’s industry, services, consumer, retail trade and construction sectors as uncertainty over the country’s final relationship with the EU continues to loom large. More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.com Things were markedly different in the euro area, where economic sentiment in France rose by four points to 104.8, boosted by a growth in optimism in industry and services businesses polled by the Commission.Andrew Kenningham, chief Europe economist at Capital Economics, noted that “consumer confidence also rose and has now recovered to pre-gilet jaunes levels,” referencing the so-called yellow vest protests that rocked French cities from November 2018.In the Eurozone, industry confidence saw the first solid improvement in thirteen months, as managers expected to see a considerable rise in production.However, it appeared that managers thought domestic demand would drive production as they reported the biggest decline in export order books in over six years.Kenningham said: “The small increase in the Eurozone’s economic sentiment indicator is a welcome bit of good news.”center_img whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikePast Factory4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!Past FactoryFilm OracleThey Drained Niagara Falls – Their Gruesome Find Will Keep You Up All NightFilm Oraclebonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldPost FunA Coast Guard Spotted Movement On A Remote Island, Then Looked CloserPost FunDefinitionMost Embarrassing Mistakes Ever Made In HistoryDefinitionDaily Funny40 Brilliant Life Hacks Nobody Told You AboutDaily FunnyMisterStoryWoman files for divorce after seeing this photoMisterStoryHealthyGem20 Hair Shapes That Make A Man Over 60 Look 40HealthyGem whatsapp Gloomy UK drags down economic confidence in the EU Sharelast_img

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