Estonia: Economic sentiment falls in October
Economic sentiment came in at 77.9 in October, down from September’s 79.4. October’s result marked the weakest sentiment since June 2020. As a result, the index remained below the long-term average of 100, pointing to a downbeat near-term outlook for the economy.
The headline print reflected cooling confidence in the services sector in October, as well as weakening sentiment in the retail sector in the surveyed month. Moreover, consumer confidence softened in October. More positively, sentiment in the industrial and construction sectors improved from the previous month.
Relating to indicators that are not used to calculate the index, employment expectations weakened, while the economic uncertainty index rose in October.