The economic climate in the euro area is at its lowest for three and a half years

Economic sentiment in the euro area fell to a three-and-a-half-year low in July, and the business climate indicator reached a six-year low, according to a report released on Tuesday by the European Commission’s Directorate-General for Economic and Financial Affairs (DG EcFin).

The economic sentiment index (ESI) of the DG EcFin (Directorate-General Financial and Economic Affairs) decreased to 102.7 points in July from the 103.3 points in the previous month. The market expected 102.6 points for July. (MTI)