European Union Economic Growth: EU Sees Decline In Economic Sentiment, Employment Expectations In May

The economic sentiment and employment expectations in the European Union and the euro area went down in May.

According to it's business and consumer survey results released, in May, the economic sentiment indicator decreased 1.9 points to 95.2 in the EU and 2.5 points to 96.5 in the euro area, according to the survey report.

Data showed, the employment expectations indicator declined 2.2 points to 104 in the EU and 2.8 points to 104.7 in the euro area during the period.

Due to the prolonged Russia-Ukraine conflict, many European countries have been mired in high inflation and price hikes.

The EU attributed the decrease of the ESI in may to lower confidence in industry, services and, particularly, retail trade.