Eurozone: Economic sentiment rises for third consecutive month, hits four-year high in October
October 29, 2015
A more optimistic economic mood among businesses in the Eurozone offset a less pessimistic morale among consumers. According to the European Commission (EC), the economic sentiment index (ESI) inched up from 105.6 in September to 105.9 in October. The print marked the highest level in four years and contrasted the drop to 105.1 the markets had expected.
Looking at the sectors of the economy, economic sentiment increased in industry, retail trade and construction. Conversely, economic sentiment among consumers fell over the previous month.
At a country level, an increase in economic sentiment was notable in Slovakia (+5.7 points), Malta (+5.6 points) and Greece (+3.4 points). Among the four major Eurozone economies, sentiment fell slightly in Germany (-0.7 points) and Spain (-0.7 points), while it increased in France (+1.6 points) and Italy (+0.9 points).
Author: Ricardo Aceves, Senior Economist