EU economic sentiment declines amid mixed sector confidence

(MENAFN) The EUs economic sentiment decreased by 0.7 points to 96 this month due to warning confidence in the industrial sector, in line with a survey issued Wednesday by the European Commission. While the decline was partially offset by slight confidence gains in retail, construction, and among consumers, the services sector remained stable.

Spain went through the biggest decrease in economic sentiment with 4.8, followed by France at 4.7, Poland at 3.6, as well as the Netherlands at 2.3. However, Germany showed a raise of 0.8 points.

The commission reported that industry confidence declined by 1.8 points in October, while confidence in services remained steady with a little surge of 0.1 points. Consumer confidence improved by 0.5 points due to a developed perception of households, yet households desire to reach high purchases stayed unchanged.

Retail trade confidence showed a raise of 0.9 points and construction confidence increased by 0.7 points. Regarding the employment, it stayed steady with a little raise of 0.1 at its long-standing usual. The commission emphasized that construction and retail trade executives were optimistic in hiring plans, whereas industry and facilities executives were the opposite.

The results showed dropping for the economic sentiment by 0.7 points for the Eurozone to 95.6.

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