7th consecutive increase in the euro-zone economic sentiment indicator
October 30, 2009
The ESI (in its acronym in English), or indicator of economic sentiment in the euro area recorded in October, a rise of 3.4 points, up to 86.2 points, while in the whole of the European Union is also increased by 3.4 pointsreaching a level of 86 points, which is the seventh consecutive monthly increase in both regions, according to data from the European Commission.
The recovery of this indicator reflects mainly an increase in the expectations of the industry both in the enlarged EU as in the euro area in the context of an improvement in the levels of stocks, and due to more optimistic production expectations.
There were improvements in most of the Member States in October, led by Italy (3.8 points), Germany (3,4), United Kingdom (3.2) and France (3), while increases were more moderate in Poland (2.3 points), Spain (1.9) and Netherlands.
The confidence of consumers, meanwhile, rallied significantly, two points in the EU and a point in the euro area, thanks to a more optimistic economic forecast in general. Confidence in the services sector increased by 2 points in the euro area, while it remained unchanged in the EU due to the collapse of confidence in United Kingdom.
With regard to the construction, the indicator continues to grow in a sustained manner (one point split both regions), while in the sector of trade retailer remained unchanged in the euro area but dropped a point in the EU.
