Eurozone Economic Confidence Continues Downhill

Eurozone Economic Confidence Continues DownhillBrussels, Jul 31.- The Eurozone economic confidence dropped two percentage points in July, which stood at 87.9 points this indicator, said today the European Commission, which placed the largest declines in Germany, France and Spain.

According to a statement from the Commission, the economic sentiment indicator of the overall European Union fell by 1.4 percentage points to 89 points.

The EU executive said the drop corresponds to a deterioration of confidence in all sectors, adding that the fall in confidence in the services sector was the main reason for the setback recorded this month.

Among the principal states confidence deteriorated especially in Germany (3.7 points) and France (2.3 points), as well as in Spain (1.4 points), whereas, by contrast, improved again for another month in the UK (1.7 points) and Italy (1.3 points).

The European Commission said the business climate indicator in the Eurozone fell in June from 0.95 points to 1.27 points, its lowest level since October 2009. (Radio Cadena Agramonte)