Eurozone Economic Sentiment September 2016

Eurozone

Eurozone: Economic sentiment hits highest level since January

Economic sentiment in the Eurozone rose in September, according to the European Commission (EC). The economic sentiment index (ESI) increased from 103.5 in August to 104.9, the highest reading since January. The result overshot market analysts’ expectations of no change to the index. Despite the Brexit vote, economic sentiment has remained resilient in the Euro area.

Looking at the sectors of the economy, economic sentiment rose strongly in the manufacturing sector. Sentiment also rose in retail trade but was broadly stable in the services sector.

At a country level, sentiment improved in twelve countries including Germany, the largest economy in the Eurozone. In addition, sentiment rose in major players France, Italy and Spain. However, sentiment declined in the remaining countries including Belgium and Greece.

FocusEconomics Consensus Forecast panelists see private consumption growing 1.7% in 2016, which is up 0.1 percentage points from last month’s projection. For 2017, panelists see consumption expanding 1.4%. Panelists expect investment to grow 2.6% in 2016, which is down 0.2 percentage points from last month’s forecast. In 2017, panelists see investment increasing 2.2%.


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Eurozone Economic Sentiment Chart


Euro Economic Sentiment September 2016

Note: The Economic Sentiment Indicator (ESI) is based on surveys addressed to the manufacturing, services, retail trade and construction sectors, as well as to consumers. Values above 100 indicate an above-average economic sentiment, whereas values below 100 indicate a below-average position.
Source: European Commission


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