The European Commission has released today its Economic Sentiment Indicator (ESI) . the index increased by 6.5 points, 8.5% greater than the previous data. (75.8 in june Vs 82.3 in july).

the increase was mainly in the services, industrial, and retail trade confidence indicators. while construction and consumer confidence were slightly below June performance because of persistent fears amide the number of new Covid-19 infections picking up again .

consumer confidence remains weak, especially with the rise of the unemployment rate to 7.8% in june from 7.7% in may that was revised from 7.4%.

overall the index has shown a sustained path of recovery helped mainly by the european union common fiscal policy with the new COVID-19 recovery fund of 750 billion euros.