Eurozone: Economic sentiment hits highest level since January
September 29, 2016
Economic sentiment in the Eurozone rose in September, according to the European Commission (EC). The economic sentiment index (ESI) increased from 103.5 in August to 104.9, the highest reading since January. The result overshot market analysts’ expectations of no change to the index. Despite the Brexit vote, economic sentiment has remained resilient in the Euro area.
Looking at the sectors of the economy, economic sentiment rose strongly in the manufacturing sector. Sentiment also rose in retail trade but was broadly stable in the services sector.
At a country level, sentiment improved in twelve countries including Germany, the largest economy in the Eurozone. In addition, sentiment rose in major players France, Italy and Spain. However, sentiment declined in the remaining countries including Belgium and Greece.