Eurozone Economic Confidence Strengthens In September

Eurozone economic confidence strengthened in September, survey data from the European Commission showed Thursday.

The economic sentiment index rose to 113.0 in September from 111.9 in August. The reading was also above the expected 112.

The indicator firmed on the back of higher industry, retail trade and construction confidence.

Industrial confidence continued the rally it had embarked upon last autumn, thanks to managers’ higher production expectations and improved appraisals of the current level of overall order books.

The corresponding index climbed to 6.6 from 5.0. The expected score was 5.2.

The services sentiment indicator advanced slightly to 15.3 from 15.1. Broadly unchanged development reflected improved assessments of past demand being partially offset by lower demand expectations, as well as unchanged views on the past business situation.

The confidence index for retail trade improved to 3.0 from 1.6. Retail trade confidence firmed due to managers’ more upbeat appraisals of the present business situation, the adequacy of the volume of stocks and, in particular, the expected business situation.

For the third month in a row, consumer confidence remained broadly unchanged in September. The index came in at -1.2 versus -1.5 a month ago. The score matched the preliminary estimate.

Another data from the EU showed that the business sentiment index came in at 1.34 in September versus 1.08 in August.

Managers’ production expectations, views on overall order books and their appraisals of export order books, as well as past production improved.
Source: RTT News