Eurozone Economic Sentiment February 2017

Eurozone

Eurozone: Economic sentiment inches up to highest level in almost 6 years

February 27, 2017

Economic sentiment in the Eurozone rose slightly in February, according to the European Commission (EC). The economic sentiment index (ESI) increased from 107.9 in January to 108.0, the highest reading since March 2011. The result matched market analysts’ expectations. Despite a number of ongoing political uncertainties, economic sentiment rests at a high level in the Euro area.

Looking at the sectors of the economy, economic sentiment rose in the manufacturing, construction and services sectors. However, sentiment fell among consumers and retail trade firms.

At a country level, sentiment improved in 10 countries including France, Italy, and Spain. In contrast, sentiment deteriorated in seven countries, including Germany.

FocusEconomics Consensus Forecast panelists see private consumption growing 1.4% in 2017, which is unchanged from last month’s projection. For 2018, panelists also see consumption expanding 1.4%. Panelists expect investment to grow 2.5% in 2017, which is unchanged from last month’s forecast. In 2018, panelists see investment increasing 2.7%.


Author: Angela Bouzanis, Senior Economist

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Eurozone Economic Sentiment Chart


Euro Economic Sentiment February 2017 0

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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