The Economic Sentiment Indicator (ESI) published by the European Commission fell to 86.1 points in August, down from 87.9 points in July. The reading, which marked a fifth consecutive drop in the index, came in below market expectations that had sentiment falling to 87.6 points. Currently, the index sits at its lowest level since August 2009 and remains well below its long-term average of 100 points, suggesting deteriorating prospects for the Eurozone economy going forward. The decline was driven by worse results in all five main categories, with the largest drop experienced in the construction sector. At a country level, the largest declines were seen in Spain (-4.9 points) and Austria (-3.5 points). Among the other major economies in the region, sentiment deteriorated in Italy (-2.4 points) and Germany (-1.0 points), whereas it improved in France (+0.4 points). Estonia is currently the country boasting the highest confidence level in the region with 102.3 points, followed by Malta with 98.6 points.
Eurozone Economic Sentiment
Economic sentiment falls to lowest level in three years
August 30, 2012
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Eurozone Economic News
October 24, 2016
Recent data suggest that business activity in the Euro area picked up momentum at the start of Q4.
October 20, 2016
The European Central Bank (ECB) decided to stay the course and made no changes to its monetary policy at its 20 October meeting, matching market expectations.
October 17, 2016
Complete data released by Eurostat on 17 October confirmed that harmonized inflation was 0.4% in September, above August’s 0.2% and the highest reading seen since June 2014.
October 12, 2016
The industrial sector in the common-currency bloc grew in August after contracting in July.
September 30, 2016
Inflation rose to an almost two-year high in September, providing some evidence that the European Central Bank’s monetary stimulus is bearing fruit.