Eurozone Economic Sentiment


Eurozone: Eurozone economic sentiment rises again in September and reaches highest level in over four years

September 29, 2015

The economic mood among businesses and consumers in the Eurozone is gradually improving. According to the European Commission (EC), the economic sentiment index (ESI) rose from 104.1 in August to 105.6 in September. The print marked the highest level since June 2011 and also overshot the 104.1 the market had expected.

Looking at the sectors of the economy, economic sentiment increased in industry and retail trade and was particularly high in services. Meanwhile, economic sentiment among consumers slipped over the previous month.

At a country level, an increase in economic sentiment was notable in Greece (+7.9 points)—which more than offset last month’s 6.1-point decline—Lithuania (+1.7 points) and Malta (+2.8 points). Among the four Eurozone major economies, sentiment in increased in Germany (+1.9 points), France (+0.9 points) and Italy (+3.4), while it decreased in Spain (-0.9 points).

FocusEconomics Consensus Forecast panelists see private consumption growing 1.5% in 2015, which is unchanged from last month’s projection. For 2016, panelists see consumption expanding 1.3%. Panelists expect investment to grow 1.3% in 2015, which is up 0.1 percentage points from last month’s forecast. In 2016, panelists see investment increasing 2.7%.

Author:, Senior Economist

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Eurozone Economic Sentiment Chart

Euro Economic Sentiment September 2015 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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