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E-mail Xinhua, July 30, 2012
BRUSSELS, July 30 (Xinhua) -- The eurozone's economic confidence declined by 2 points to 87.9 in July, mainly as a result of a loss of confidence in the industrial sector and among consumers, the European Commission said Monday.
The economic confidence in the form of the Economic Sentiment Indicator (ESI) continued last month's recovery in Britain and Italy, by 1.7 points and 1.3 points respectively, while the Netherlands saw its ESI rise slightly by 0.6 point, the Commission's data showed.
However, the ESI recorded sharper falls in Germany, France and Spain, by 3.7 points, 2.3 points and 1.4 points respectively, according to the Commission.
Continuing the downward trend reported since March, confidence in industry fell 2.2 points in July, attributable to "decreasing production expectations, as well as a more negative assessment of the current level of overall order books and increasing stocks of finished products."
In the single currency area, the confidence in the services and retail trade sectors also declined in July, by 1.1 points and 0.6 point, the figures showed.
Consumer confidence, another part of the ESI, also weakened in the euro area by 1.7 points, amid "higher unemployment fears, as well as worsened expectations about the future general economic situation and savings," the Commission said. Enditem
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