Summary: Euro-zone composite sentiment indicator down in August, slightly below expectations; readings down in all five sectors; down in three of four largest euro-zone economies; German, French 10-year yields moderately higher; index implies annual GDP growth rate of -0.2%. The European Commission’s Economic Sentiment Indicator (ESI) is a composite index comprising five differently weighted sectoral confidence indicators. It is heavily weighted towards confidence surveys from the business sector, with the...