Estonia: Economic sentiment falls in May
Latest reading: Economic sentiment came in at 88.3 in May, down from April’s 89.7. May’s result marked the worst reading since October 2024. As a result, the index remained entrenched below the long-term average of 100, pointing to a downbeat near-term outlook for the economy.
The headline print reflected declining sentiment in the industrial and construction sectors. Additionally, confidence in the services sector softened in May. On the flipside, sentiment in the retail sector increased in the surveyed month and consumer confidence improved.
Relating to indicators that are not used to calculate the index, employment expectations deteriorated, while the economic uncertainty index improved in May.