Eurozone Economic Sentiment December 2018

Eurozone

Eurozone: Economic sentiment hits almost two-year low in December

January 8, 2019

Economic sentiment in the Eurozone continued to plunge in December, ending 2018 on a downbeat note. According to the European Commission (EC), the economic sentiment index (ESI) came in at 107.3 points, down from the 109.5 points in November and the worst result in almost two years. December’s reading undershot market expectations of a softer fall to 108.2. Nonetheless, sentiment in the Eurozone remains elevated compared to levels seen over the past two decades.

December’s downturn was broad-based with lower confidence reported in the industrial, services, construction sectors and among consumers. Employment plans worsened in the construction, services and retail trade sectors but were unchanged among manufacturers.

Among member countries, economic sentiment decreased in most countries, including major-players France, Germany, Italy and Spain.

FocusEconomics Consensus Forecast panelists see private consumption growing 1.5% in 2019, which is unchanged from last month’s projection. For 2020, panelists see consumption expanding 1.5%. Panelists expect investment to grow 2.8% in 2019, which is unchanged from last month’s forecast. In 2020, panelists see investment increasing 2.4%.


Author: Angela Bouzanis, Lead Economist

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Eurozone Economic Sentiment Chart


Euro Economic Sentiment December 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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