Business climateBusiness climate: the improvement continues. The economic sentiment index has been improving for two months, reaching 98.6 in June (+0.2 points m/m). The indicator for industry remains weak but is back to its highest level in 13 months, with production and hiring expectations for the coming months improving. Industrial production rose year-on-year (+0.1%), the first increase since January 2023. In the services sector, the indicator rose sharply (+0.7 points).
Household ConfidenceHousehold confidence declined (-1.1 points). Households anticipate a deterioration in the economic and financial situation over the next year, causing a drop in major purchasing intentions (-3.1 points m/m).
For the time being, retail sales continue to decline (-0.3% y/y in April), as do new vehicle registrations (-0.2% y/y in May).
