Eurozone economic sentiment declines

EUROZONE economic sentiment deteriorated in July, the European Commission said yesterday as its overall index of morale in the 12-member bloc fell to 99.4 from 99.6 in June.

While the decline drove the index back to levels last seen in April, it was less than had been expected by economists whose consensus forecast had been for a reading of 99.2.

A breakdown showed the consumer confidence component fell to minus 10 from minus nine in June and construction confidence declined to minus 14 from minus 11. Industrial confidence stayed flat at minus 10.