Eurozone Economic Sentiment January 2017

Eurozone

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.

FocusEconomics Consensus Forecast panelists see private consumption growing 1.4% in 2017, which is unchanged from last month’s projection. For 2018, panelists see consumption expanding 1.4%. Panelists expect investment to grow 2.5% in 2017, which is up 0.2 percentage points from last month’s forecast. In 2018, panelists see investment increasing 2.6%.


Author: Angela Bouzanis, Senior Economist

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Eurozone Economic Sentiment Chart


Euro Economic Sentiment January 2017

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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