Economic sentiment falls to three-month low
Economic sentiment in the Eurozone moderated in February, although remaining historically high. According to the European Commission (EC), the economic sentiment index (ESI) decreased from 114.9 points in January to 114.1 points in February. Despite the fall, sentiment in the Eurozone remains at one of the highest readings in nearly two decades sustained by a booming economic recovery.
February’s fall was driven by a nearly broad-based decline across all sectors of the index except for services. Consumer confidence fell notably, while smaller drops were seen in the industrial, retail trade and construction sectors. Meanwhile, employment plans deteriorated somewhat from January.
At a country level, economic sentiment eased notably in France, Latvia and Slovenia. Major-players Germany and Spain also saw weaker sentiment, while confidence increased in Italy.