European business and consumer confidence fell sharply in August, with Spain reporting the biggest drop among major eurozone economies while France saw a rise, the European Union said on Monday.

The Economic Sentiment Indicator produced by the European Commission fell to 86.1 points across the 17-nation eurozone, down 1.8 points from July after its fifth consecutive monthly slide.

The indicator remained well below its long-term average of 100 points.

AFP