Eurozone Economic Sentiment October 2018

Eurozone

Eurozone: Economic sentiment hits 17-month low in October

October 30, 2018

Economic sentiment in the Eurozone continued to fall in October, maintaining this year’s downward trend. According to the European Commission (EC), the economic sentiment index (ESI) came in at 109.8 points, down from the 110.9 points in September and the worst result seen in 17 months. Nonetheless, sentiment in the Eurozone remains elevated in comparison to levels seen over the past two decades.

Lower confidence in the industrial, services and retail trade sectors drove October’s drop. In contrast, consumer confidence and construction sector confidence were broadly unchanged. Employment plans also deteriorated in the industrial and retail trade sectors.

Among member countries, economic sentiment decreased in thirteen economies, including major-players France, Germany and Italy. However, confidence rose in Spain and four other economies.

FocusEconomics Consensus Forecast panelists see private consumption growing 1.6% in 2019, which is unchanged from last month’s projection. For 2020, panelists see consumption expanding 1.5%. Panelists expect investment to grow 3.1% in 2019, which is unchanged from last month’s forecast. In 2020, panelists see investment increasing 2.3%.


Author: Angela Bouzanis, Lead Economist

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Eurozone Economic Sentiment Chart


Euro Economic Sentiment October 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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