Eurozone Sentiment Rises as Industry and Services Confidence Improve

Euro-area sentiment improved in July, driven by stronger views in industry and services, while household mood held steady, according to the European Commission’s monthly business and consumer survey released Wednesday. The headline Economic Sentiment Indicator rose to 95.8 from 94.0 in June, topping economists’ expectations for 94.5. Industrial confidence climbed to minus 10.4 from minus 12.0, and services confidence advanced to 4.1 from 2.9. Final consumer confidence was unchanged at minus 14.7, matching the flash estimate. The figures suggest a tentative pick-up in corporate outlook as the bloc continues to contend with weak demand and high borrowing costs. Policymakers at the European Central Bank meet next week to decide whether recent signs of stabilisation are sufficient to begin discussing rate cuts later this year.