The Economic Sentiment Indicator (ESI) for July significantly improved in the European Union and the 19-strong euro area, while slightly deteriorating in Croatia, according to the latest report issued by the European Commission on Thursday.

In Croatia, July’s ESI went down by 1.6 points to 83.2 points after it recovered in May and June, following a record low of 72.3 points in April amidst the coronavirus pandemic.

“In July 2020, the recovery of the Economic Sentiment Indicator (ESI) continued. Registering a sharp increase in the euro area (+6.5 points up to 82.3) and the EU (+6.9 points up to 81.8), the ESI in both regions has so far recovered around half of the combined losses of March and April. Also the Employment Expectations Indicator (EEI) improved markedly for the third month in a row (by 4.0 points to 87.0 in the euro area and by 4.1 points to 87.0 in the EU),” the Commission said.