Eurozone Economic Sentiment February 2016


Eurozone: Economic sentiment falls for second consecutive month, hits eight-month low in February

February 26, 2016

Economic sentiment in the Eurozone continued to fall in February, pulled down by pessimism across the board. According to the European Commission (EC), the economic sentiment index (ESI) fell from 105.1 in January to 103.8 in February. The result also undershot the 104.3 the markets had expected and marked the lowest level since June 2015.

Looking at the sectors of the economy, economic sentiment fell in industry, services and retail trade. Conversely, it rose in construction. Meanwhile, economic sentiment among consumers declined notably and for a second consecutive month in February, which is a poor harbinger for future consumer spending.

At a country level, angst was standing in the way of the region’s recovery as a decrease in economic sentiment was registered in nearly all the economies in the common-currency bloc. Only Cyprus and Slovakia eked out some positive sentiment in February.

FocusEconomics Consensus Forecast panelists see private consumption growing 1.6% in 2016, which is unchanged from last month’s projection. For 2017, panelists see consumption expanding 1.6%. Panelists expect investment to grow 2.4% in 2016, which is down 0.1 percentage points from last month’s forecast. In 2017, panelists see investment increasing 2.7%.

Author:, Senior Economist

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Eurozone Economic Sentiment Chart

Euro Economic Sentiment February 2016 1

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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