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EU economic sentiment index stable in June

June 28, 2012 at 10:47 AM

BRUSSELS, June 28 (UPI) -- The European Commission said Thursday economic sentiment remained virtually unchanged in the European Union in June.

After dropping sharply in May, the Economic Sentiment Indicator for the European Union was unchanged at 90.4 in the 27-member EU, although it fell by 0.6 points to 89.9 in the 17-member eurozone, the countries that share the euro as currency, the commission said.

The commission said confidence fell in industry, services and among consumers. However, that was offset by increased economic confidence in retail trade and construction.

The index assigns the 1990-2009 average a numerical value of 100. Numbers below 100 indicate confidence has fallen below that 20-year average.

The index fell sharpest in France (down 1.5 points), Germany (down 1.4 points) and Poland (down 1.3 points) -- countries where the index was relatively stable in May.

The Economic Sentiment Indicator rose in Britain (up 1.9 points), Spain (up 1 point) and Italy (up 0.9 points).

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