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Euro area developments
The decrease in the euro-area sentiment indicator resulted from a marked deterioration of confidence among consumers and a milder decrease in the services sector, which were only partly offset by increases in the retail trade and construction sectors. Confidence in the industry sector remained broadly stable. Amongst the largest euro-area economies, the ESI remained virtually unchanged in Germany (-0.1), while it decreased in France (-1.3), Italy (-0.8), Spain (-0.7) and the Netherlands (-0.5).
EU developments
Stable sentiment in the EU (+0.0) resulted from the marked improvement of sentiment in the largest non-euro area EU economy, the UK (+1.5), while the ESI decreased significantly in Poland (-1.3). Changes at sector level were in line with those in the euro area, but the decreases registered in services and among consumers were somewhat less pronounced and the improvement in the retail sector was more marked. EU confidence in the financial services sector fell in line with the euro area, but the drop was sharper.