The "Union" countries are failing to settle the battle for the agricultural budget
Sentiment in the Eurozone is at a 3-year high
The European Commission's index of economic sentiment rose to 114.5 points in May.
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Yesterday, data showed, economic sentiment in the euro area improved more than expected, reaching its highest level in three years in May, as the largest increases were in the services and retail sectors and among consumers, with governments easing restrictions related to the pandemic.
The European Commission’s index of economic sentiment rose to 114.5 in May, from 110.5 in April, beating expectations in a survey of improvement to 112.1.
This is the highest level for the index since January 2018.
The optimism in the services sector, which constitutes two-thirds of the euro zone economy, was the most increase, with its rise to 11.3 points, from 2.2 points.
Sentiment in the retail sector rose to 0.4, from (-3.0), as many stores reopened after the closures.
Consumer sentiment rose to (-5.1), from (-8.1) in April, in a move well above the long-term average of (-11.0).
Sentiment in the manufacturing sector was at an all-time high, and the construction sector was also up.
In addition, the 27 European Union countries and the European Parliament failed to settle the battle over the bloc's agricultural budget of 270 billion euros ($ 330 billion) in the last round of negotiations this week, which led to the postponement of talks on the policy affecting millions of farmers to a later day.
"No agreement has been reached," said the spokeswoman for the Portuguese presidency of the Council of the European Union, Katarina Faria.
She added that the next official round will probably take place in June, but this matter has not yet been decided.
Representatives of Parliament, the European Commission and the 27 European Union countries negotiated from Tuesday until late last night to decide on rules on how to use CAP funds.
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