Eurozone: Economic sentiment inches up in November
November 29, 2016
Economic sentiment in the Eurozone rose slightly in November, according to the European Commission (EC). The economic sentiment index (ESI) increased from 106.4 in October to 106.5, the highest reading since December 2015. The result undershot market analysts’ expectations of a larger increase to 107.0. Despite a number of political uncertainties, economic sentiment has remained resilient in the Euro area.
Looking at the sectors of the economy, economic sentiment rose in retail trade and among consumers but fell slightly in the manufacturing sector. Meanwhile, sentiment in the services sector was unchanged from October’s result.
At a country level, sentiment improved in eleven countries including France, Portugal and Spain. In contrast, sentiment deteriorated in the remaining countries including in Germany and Greece.