EZ economic sentiment falls more than expected in May

Business and consumer confidence in the Eurozone fell more than expected in May, suggesting that any economic recovery may be stalling.

The economic sentiment indicator fell to 96.5 in May from a revised 99.0 in April and well below the consensus estimate of 98.9.

Industrial sentiment fell to -5.2, from -2.8 in April, while the services confidence index fell to 7.7, from a revised 9.9 last month. Retail and construction were both weaker with the former down to -5.3, from -0.9 in April while the latter dipped to 0.2, from 0.9 last month.