Eurozone Economic Confidence Improves Marginally In September

Eurozone economic confidence improved marginally in September, survey results from the European Commission showed on Wednesday.

The economic confidence index rose unexpectedly to 117.8 in September from 117.6 in the previous month. The score was forecast to fall to 116.9.

The stability of the economic sentiment in September resulted from improving confidence in construction and among consumers being offset by worsening confidence in services and retail trade.

The industrial sentiment index improved to 14.1 in September from 13.8 in August, while it was forecast to fall to 12.5.

Meanwhile, the services confidence index dropped more-than-expected to 15.1 from 16.8 a month ago. The expected reading was 16.5.

The consumer confidence index advanced to -4.0, in line with flash estimate, from -5.3 in the previous month. The increase reflected improvement in households’ assessments of their past financial conditions and intentions to make major purchases.

Driven by the substantial deterioration of managers’ assessment of past and expected business activity, the retail trade sentiment indicator declined to 1.3 from 4.6 in August.

The construction sentiment index climbed to 7.5 from 5.5 in August as managers were more upbeat about employment expectations.

The employment expectations indicator grew 0.8 points to 113.6 in September driven by improved employment plans in services and construction. The reading hit its highest level since summer/autumn 2018.

At the same time, selling price expectations firmed further in industry, retail trade and services.

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