Eurozone: Economic sentiment falls to new multi-year low in October
October 30, 2019
Sentiment in the Eurozone dropped again in October, continuing this year’s downward trend. Economic sentiment fell 0.9 points from September’s 101.7 to 100.8 points. October’s result marked the worst reading since January 2015. Accordingly, sentiment in the Eurozone is only slightly above its long-run average of 100 points.
October’s downturn was nearly broad-based, with confidence dropping among consumers and in the industrial, services and retail trade sectors. Sentiment in the construction sector saw the only improvement in October. Employment plans deteriorated in the industrial sector, however, improved in the services and construction sectors.
Among individual economies, sentiment fell almost across the board, with the most notably declines in Austria, Finland, Luxembourg, Portugal and Spain.