Estonia: Economic sentiment falls further below threshold in August
Economic sentiment fell to 84.5 in August from July’s 86.8. As a result, the index remained entrenched below the long-term average of 100, pointing to a downbeat near-term outlook for the economy.
The headline print reflected weaker sentiment in the construction and retail sectors and deteriorating confidence in the services sector and among consumers. That said, August marked improved sentiment in the industrial sector.
Regarding indicators that are not used to calculate the index, employment expectations deteriorated, while the economic uncertainty index improved in August.