Massive Drop In Economic Sentiment Suggests Anemic Q3 For Euro Area

European economic confidence fell to 98.3 in August, down from 103 in July hitting its lowest level since May 2010, and posting the biggest monthly fall since December 2008. Meanwhile, the sentiment among European manufacturers fell to -2.9 from 0.9 in July, while services confidence fell to 3.7 from 7.9.

Société Générale meanwhile has noted the corresponding moves between economic confidence and euro area GDP. This morning’s data points to a weak third quarter:

Euro area GDP

Photo: Société Générale

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