The services confidence indicator in the Euro Area rose by 8.0 points to -35.6 in June, recovering slightly from a record low of -43.6 in May but still well below market expectations of -25.4. There was the second month of rallying demand expectations, which were, this time around, coupled with a comparatively small deterioration of past demand and assessments of the past business situation edging up. The latter hints at the expected recovery starting to gain traction.
Services Sentiment in the Euro Area averaged 9.72 from 1996 until 2020, reaching an all time high of 35.40 in June of 1998 and a record low of -43.60 in May of 2020. This page provides - Euro Area Services Sentiment- actual values, historical data, forecast, chart, statistics, economic calendar and news. Euro Area Services Sentiment - values, historical data and charts - was last updated on July of 2020. source: European Commission
Services Sentiment in Euro Area is expected to be -16.00 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Services Sentiment in Euro Area to stand at -12.00 in 12 months time. In the long-term, the Euro Area Services Sentiment is projected to trend around -3.00 in 2021 and 2.00 in 2022, according to our econometric models.