Brexit hits euro outlook

Economic sentiment in the 19 countries sharing the euro fell in August to its lowest level since March, a further indication that morale is weakening after Britain voted to leave the EU.

The European Commission’s eurozone Economic Sentiment Indicator — the ESI fell to 103.5 in August from 104.5 in July, its lowest level since March and well below the 104.1 forecast in a poll of 38 economists. Estimates had ranged from 103.0 to 104.9.

Confidence fell in four of the eurozone’s five largest economies, with the exception of France where the index rose slightly in August.