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- Eurozone economic sentiment improves slightly in November
Eurozone economic sentiment improves slightly in November
The European
Commission (EC) announced on Thursday the Eurozone’s Economic Sentiment
Indicator (ESI) rose by 0.5 points to 101.3 in November from 100.8 in October.
Economists had forecast the measure would increase to 101.
The improvement
in euro area sentiment resulted from increased confidence among consumers (+0.4
to -7.2 in November) and retail trade managers (+0.7 to -0.2), while confidence
remained broadly unchanged in industry (+0.3 to -9.2 in November vs. economists’
forecast of -9.1) and services (+0.3 to 9.3). Only confidence in construction worsened
sharply (-1.3 to 3.1 in November).
Amongst the
largest euro-area economies, the ESI increased in Spain (+0.7), France and
Germany (both by +0.4), while it remained virtually unchanged in Italy (-0.1)
and worsened in the Netherlands (−1.0).
The report also
revealed that employment plans worsened somewhat in construction and industry while remaining broadly unchanged in services and retail trade. Meanwhile, consumers’
unemployment expectations improved a little. Selling price expectations
declined marginally in industry and services while remaining broadly stable in
retail trade and edging up in construction. Consumer price
expectations dropped in November.
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