The economic climate in the euro area deteriorated in June

The economic climate in the euro area deteriorated to a greater extent than expected, to almost three years low in June, with a sharp decline for the largest economies, such as Germany and Italy.

According to a report issued by the European Union’s Directorate-General for Economic and Financial Affairs (EcFin) on Thursday, the euro area’s economic sentiment indicator (ESI), which reflected consumer confidence in the economy, fell by 1.9 points in January to 103.3 points. (MTI)