Eurozone Economic Sentiment February 2018


Eurozone: Economic sentiment falls to three-month low

February 27, 2018

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.

FocusEconomics Consensus Forecast panelists see private consumption growing 1.8% in 2018, which is unchanged from last month’s projection. For 2019, panelists see consumption expanding 1.7%. Panelists expect investment to grow 3.9% in 2018, which is unchanged from last month’s forecast. In 2019, panelists see investment increasing 3.3%.


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Eurozone Economic Sentiment Chart

Euro Economic Sentiment February 2018

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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