Euro Area Services Sentiment at 4-Year Low
The Euro Area's services confidence indicator experienced a decline for the fourth consecutive month, reaching 1.5 in May 2025. This marks its lowest point since April 2021, down from a revised 1.6 in April. Despite the decrease, the figure surpassed market forecasts, which anticipated a reading of 0.9. There was a modest improvement in managers' assessments of the past business situation, moving from -4.2 to -2.2. However, this step forward was counterbalanced by a weaker evaluation of past demand, which fell from 2.7 to 1.4. Furthermore, there was a softening in expectations for future demand, which decreased from 6.3 to 5.3, and employment expectations slightly dropped from 0.5 to 0.2.
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