Financial News: Eurozone Economic Sentiment Weakens Slightly In September

Eurozone Economic Sentiment Weakens Slightly In September

09/27/2024 - 08:22:00 (RTTNews)

(RTTNews) - Eurozone economic confidence dropped slightly in September from a 15-month high in August, monthly survey results from the European Commission showed on Friday.

The economic sentiment index fell to 96.2 in September from 96.5 in the previous month. Meanwhile, the score was forecast to remain stable at 96.5.

The Employment Expectations Indicator was almost unchanged in September, with the index rising marginally to 99.5 in September from 99.4 in August. Moreover, the index remained close to its long-term average of 100.

The survey showed that economic confidence declined markedly in France and Germany while it strengthened in Poland, Spain, and Italy.

The industrial sentiment index worsened in September and posted -10.9 versus -9.9 in August. The decline was due to a substantial deterioration in managers' assessments of the current level of overall order books and a less pronounced worsening in their assessments of the stocks of finished products.

Meanwhile, the services confidence showed some resilience and rose by 0.3 points to 6.7 in September. Similarly, consumer confidence increased somewhat to -12.9 from -13.4.

The retailers' confidence index remained negative and fell to -8.5 from -7.9 the prior month. The construction confidence index improved to -5.8 from -6.3 a month ago.

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