Eurozone: Economic sentiment rises to highest level in almost 6 years
January 30, 2017
Economic sentiment in the Eurozone rose in January, according to the European Commission (EC). The economic sentiment index (ESI) increased from 107.8 in November to 108.2, the highest reading since March 2011. The result overshot market analysts’ expectations of an increase to 107.9. Despite a number of ongoing political uncertainties, economic sentiment has risen in the past months in the Euro area.
Looking at the sectors of the economy, economic sentiment rose in the manufacturing and services sectors. Consumer sentiment also increased.
At a country level, sentiment improved in 12 countries including Italy, the Netherlands and Spain. In contrast, sentiment deteriorated in five countries and was stable in Greece.