The composite confidence index in the euro area rose in May

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The European Commission published data on the dynamics of the composite business and consumer confidence index in the euro area in May. The Institution recorded its growth for the first time since June 2018. Index value in May was at the level of 105.1 points against 103.9 points in April, while analysts had expected a value of 104 points. Among industrial companies, the index rose to minus 2.9 points from minus 4.3 points in the previous month. European service providers recorded a jump in the indicator to 12.2 points from 11.8 points. Consumer confidence also rose. The corresponding indicator was minus 6.5 points, having increased from minus 7.3 points in April. At the same time, the business climate index showed a decline - from 0.42 points to 0.3 points.

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