The euro area Economic Sentiment Indicator (ESI) rose 1.0 pts to 94.8 (vs 94.0 expected) in May 2025, while the EU ESI increased 0.6 pts to 95.2.

• The Employment Expectations Indicator (EEI) increased 0.5 pts in the euro area to 97.0 and 0.6 pts in the EU to 97.5, ending a three-month decline.

• Consumer confidence improved (+1.4 pts to -15.2), reflecting reduced pessimism about the economic outlook and improved intentions to make major purchases.
• Retail trade confidence also rose (+1.9 pts to -7.0), though future business expectations worsened.
• Industry and services confidence were broadly stable, with industry up slightly (+0.7 to -10.3 pts) and services down -0.1 pts to 1.5.

• Selling price expectations fell across all sectors, and consumer price expectations for the next 12 months reversed the April spike.
• The Economic Uncertainty Indicator (EUI) declined -1.9 pts to 18.5, led by lower uncertainty among consumers and managers in industry and retail.