Economic sentiment in EU falls to 2008 levels

Economic sentiment across the EU has fallen sharply in August to reach levels last seen since Lehman Brothers collapsed in Sept 2008.

The Economic Sentiment Indicator decreased by 2.0 points in the EU in August and by 1.8 points across the eurozone.

“The sustained fiscal austerity and muddling through approach to the crisis is increasingly taking its toll on economic confidence across the region.