Euro area’s Economic Sentiment Indicator (ESI) recorded a 3.6 points increase to reach 91.1, above 89.0 analysts’ estimate, according to the press release. Confidence fueled by declining pessimism in industry, retail trading, and construction. EU recorded 3.4 points increases up to 90.2. ESI in both regions recovered almost 70%. Employment Expectations Indicator (EE1) was up 2.3 points to 91.8 for the fifth month in a row. EEI was up 2.3 points in euro area, and 2.4 points up in the EU.
- Financial services confidence up by 11.5%
- Services confidence up by 6.1% due to less managers’ less negative views
- Construction confidence up by 2.2%
- Retail trade confidence up by 1.8%
- Industry confidence up by 1.7% on improvements in managers’ appraisals of finished products stocks adequacy
- Consumer confidence up by 0.8% due to marked pick-up expectations about general economic situation
- Selling price expectations rose in industry, retail trade, and construction
- Demand expectations declined for the second month in a row
- Prior Economic Confidence revised lower from 87.7 to 87.5
- Prior Industrial Confidence revised lower from -12.7 to -12.8
Euro responding favorably to increasing economic confidence. EURUSD is up 0.30%
