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September’s Economic Sentiment Indicator (ESI) remained the same in the EU at 116.6 and largely stable also in the euro area, up 0.2 points to 117.8.
Source: European Commission
Euro Stoxx 50 up +0.87%, EUR USD down -0.33%
The Employment Expectations Indicator (EEI) further increased by +1.0 points to 113.6 in the EU and +0.8 points to 113.6 in the euro area.
The stability of EU’s ESI in September was attributable to improving confidence in construction and among consumers being offset by worsening confidence in services and retail trade.
Industry confidence remains fairly the same. Among the most significant EU economies, the ESI jumped in Spain (+1.7), Germany (+0.8), the Netherlands, and Poland (both at 0.6), but it deteriorated in France (-1.3) and Italy (-0.9).
Services confidence dropped by -1.4%, but consumer confidence bounced back by +1.1%, signaling an increase in households’ assessments of their past financial conditions.
The upward trend in the Employment Expectations Indicator (+1.0%) was backed by improved employment plans in services, construction, and industry as retailers projected a decline over the next quarter.
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