Press Release: August 2006: Economic sentiment weakens in both the EU and the euro area

After an almost continuous rise over the last 14 months, the Economic Sentiment Indicator (ESI) fell by more than a point in both the EU and the euro area. However, at 108.4 for the EU and at 106.7 for the euro area, the indicator continues to perform well above its long term average. As there was not a full set of national data on which to base the August 2006 results, it will only become apparent in the coming months whether this setback was only temporary, or whether it points to a change in the development of economic sentiment.