Eurozone: Economic sentiment hits 15-month low in September
September 27, 2018
Economic sentiment in the Eurozone continued to fall in September, maintaining this year’s downward trend. According to the European Commission (EC), the economic sentiment index (ESI) came in at 110.9 points, down from 111.6 points in August and the worst result seen in 15 months. Nonetheless, sentiment in the Eurozone remains elevated in comparison to levels seen over the past two decades.
Lower confidence in the industrial sector and among consumers chiefly drove the decline in sentiment. In contrast, firms were more optimistic in the retail trade and construction sectors. Employment plans were also mixed across sectors, deteriorating markedly in the services sector, but improving in retail trade and construction sectors.
Among member countries, economic sentiment decreased in eleven economies, including major-players France, Germany, Italy and Spain.