Estonia: Economic sentiment improves in July
Economic sentiment came in at 86.9 in July, up from June’s 83.6. July’s result marked the best reading since August 2022. Consequently, 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 improved sentiment in the industrial and construction sectors. Meanwhile, confidence in the services sector was healthier in July, while sentiment in the retail sector cooled in the surveyed month. Lastly, consumer confidence waned in July.
Regarding indicators that are not used to calculate the index, employment expectations weakened, while the economic uncertainty index decreased in July.