ExpertEye European Automotive Report Q2 2016 | Page 6

European Unemployment and Economic Sentiment Indicator

(2015) are the highest since
ince the economic crisis began. However, the influx

25

member states, e.g. Germany, Austria and Sweden. In spite of rising net

15

of migrants is putting upward pressure on unemployment levels in some
s

20

migration flows in some countries, overall unemployment is still forecast to

10

manufacturing sector continues to suffer from the sustained low levels of
growth, but confidence in the construction and services sectors remain

more bullish with the latter at the second highest level in the EU since the

120

through quarter 2.

100

recession and this is continuing to sustain a slow but steady rise in the ESI

110

Whilst the UK referendum delivered a Brexit result on the back of a

90

fallen sharply, dropping 13.4 points by May 2016 against its high of 119.1 in

70

80

June 2014. The decline in the UK ESI of 4.4 points since the end of 2015 is

60

also the main driver behind the 2.8 points decline
ecline in the EU average this
year.
European Automotive Report - 2016 Quarter 2

2017

2016

2015

2014

2013

2012

2011

2010

2009

2008

Economic Sentiment Indicator - Long term average

Nov-03
May-04
Nov-04
May-05
Nov-05
May-06
Nov-06
May-07
Nov-07
May-08
Nov-08
May-09
Nov-09
May-10
Nov-10
May-11
Nov-11
May-12
Nov-12
May-13
Nov-13
May-14
Nov-14
May-15
Nov-15
May-16

nationalisitic pride campaign it is worth noting that the ESI has actually

2007

first quarter of 2016 although both have since rallied slightly despite. The

0

2006

Consumer confidence and Economic Sentiment fell three times during the

5

2005

fall across the EU to 8.5% by 2017, down from 9.4% in 2015.

2004

creation plans and policies bear fruit. Current EU growth levels of 1.5%

Unemployed Percentage of Workforce

30

2003

Employment levels are set to continue
ontinue to rise as government driven job

France

Germany

Italy

Portugal

Spain

United Kingdom

Source: European Commission

5