Downbeat morale in Euro area

Economic sentiment in the Eurozone worsened more than expected this month with optimism fading in all sectors, data showed yesterday, signalling slower expansion of the region’s economy in the second half of this year.

The European Commission's monthly sentiment index, based on a survey of businessmen and consumers across the 17-nation Eurozone, fell to 103.2 in July from 105.4 in June. This month's figure was the lowest reading since 102.2 in August 2010.