Consumer and business confidence in the economies of both the European Union and the Eurozone has not been so high this century.

Due to a sharp increase in that sentiment in June, as corona measures are relaxed in many countries, the highest level was reached in 21 years. The European Commission reports this.

Industry confidence rose for the seventh time in a row and was at an all-time high. Industry entrepreneurs are especially more optimistic about the size of their order book and the inventories of finished products. Production expectations fell slightly after peaking in April. Confidence also increased in construction and financial services.

Consumers saw the situation brighter for the fifth month in a row and became more positive on all fronts. Retailers were also more positive, especially about the size of the stocks. Many stores remained closed for some time due to lockdowns and restrictions and, as a result, we’re left with extra stock.

A gauge of job market expectations also rose. Employers expect to hire more people, especially in industry and services. Consumer expectations about unemployment reflected this confidence, reaching their lowest level since 2018.

That price increases are part of the corona crisis’s recovery from the expectations for sales prices. In industry and retail, it reached the highest level ever, for construction it is the highest level since 1992. Consumers also expect higher prices for the sixth month in a row.