Eurozone Economic Sentiment February 2019


Eurozone: Economic sentiment broadly stabilizes in February

February 27, 2019

Economic sentiment in the Eurozone was broadly stable in February. According to the European Commission (EC), the economic sentiment indicator (ESI) dropped only 0.2 points from January to land at 106.1 points—the worst result in more than two years. All told, however, sentiment in the Eurozone remained elevated above its long-run average. February’s reading overshot analysts’ expectations.

February’s relative stabilization saw deteriorating industrial- and construction-sector confidence broadly offset by improving services-sector confidence. Moreover, by-sector employment plans roughly tracked these developments. Consumers, meanwhile, grew marginally more confident.

Economic sentiment declined across most Eurozone countries, include major-players France, Germany and Italy.

FocusEconomics Consensus Forecast panelists see private consumption growing 1.4% in 2019, which is unchanged from last month’s projection. For 2020, panelists also see consumption expanding 1.4%. Panelists expect investment to grow 2.6% in 2019, which is unchanged from last month’s forecast. In 2020, panelists see investment increasing 2.3%.


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Eurozone Economic Sentiment Chart

Euro Economic Sentiment February 2019

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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