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.