Eurozone Economic Sentiment September 2019


Eurozone: Economic sentiment falls to over four-year low in September

September 24, 2019

Sentiment in the Eurozone dropped sharply in September, reversing August’s marginal gains. Economic sentiment fell 1.4 points from August’s 103.1 points to 101.7 points. September’s result marked the worst reading since February 2015. Accordingly, sentiment in the Eurozone is only slightly above its long-run average of 100 points.

A sharp drop in sentiment in the industrial sector drove September’s downturn amid more pessimistic views on production expectations and order books. In addition, confidence fell in the retail trade sector, but rose among consumers and in the services sector.

Among individual economies, sentiment fell almost across the board, with the most notably declines in Luxembourg, Ireland and Spain.

FocusEconomics Consensus Forecast panelists see private consumption growing 1.3% in 2019, which is unchanged from last month’s projection. For 2020, panelists also see consumption expanding 1.3%. Panelists expect investment to grow 2.6% in 2019, which is unchanged from last month’s forecast. In 2020, panelists see investment increasing 1.6%.

Author: Angela Bouzanis, Lead Economist

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Eurozone Economic Sentiment Chart

Euro Area Economic Sentiment September 2019 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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