EC says Economic Sentiment Index in Croatia in May up for 7th consecutive month

Croatia in May saw its Economic Sentiment Index (ESI) improving for the seventh consecutive month, while the index remained unchanged in both the euro area and the EU, according to a survey which the European Commission released on Thursday.

The ESI in Croatia in May increased to 121.6 points, up 1.2 points from April, the EC report says.

The biggest improvement was recorded in industry confidence, up 2 point to a total of 5 points. A milder increase was recorded in consumer confidence and in retail trade confidence, by 0.3 points to -21.7, namely by 4.3 points.

Services confidence and construction confidence deteriorated - indexes dropped by 1.4 and 0.7 points to 11.2 and -24.9 points respectively.

In May, the Economic Sentiment Indicator (ESI) remained unchanged in both the euro area (at 103.8) and the EU (at 106.4).

The Directorate General for Economic and Financial Affairs (DG ECFIN) conducts regular harmonised surveys for different sectors of the economies in the European Union (EU) and in the applicant countries. They are addressed to representatives of the industry (manufacturing), the services, retail trade and construction sectors, as well as to consumers. These surveys allow comparisons among different countries' business cycles and have become an indispensable tool for monitoring the evolution of the EU and the euro area economies, as well as monitoring developments in the applicant countries.

(Text: Hina)

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