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Eurozone Economic Sentiment Posts a Rebound After 10-Month Decline

In May, Eurozone economic sentiment rebounded after falling for 10 months at a stretch, according to data released by the European Commission. The economic sentiment indicator increased to 105.1 in May from 103.9 in April, driven by a growth in services sector.

The services sentiment rose to 12.2 from 11.8 during this corresponding period, coming in higher than the forecast which was for a fall to 11.0. Economists were also expecting no change in the mood in the services industry, but it rose from -4.3 in April to -2.9 in May instead.

However, the European Commission’s business climate indicator maintained its decline, going down to 0.30 in May, beating expectations which were for a decline to 0.40 from 0.42 in April.

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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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