RTTN:Eurozone November Economic Sentiment Strengthens
Eurozone economic confidence improved more than expected in November, survey results from European Commission showed Thursday.
The corresponding index rose to 85.7 from 84.3 in the prior month and stayed above the consensus forecast of 84.5. Confidence strengthened in industry and retail trade, which were partly offset by decreases among consumers and construction.
Fueled by a much more positive assessment of the current level of overall order books, production expectations and the stocks of finished products, industrial confidence rose to -15.1, from -18.3 in October.
Confidence in services improved to -11.9 from -12.1. Retailers' sentiment came in at -14.9 compared to -17.4 last month.
The consumer sentiment index fell to -26.9 from -25.7 last month. Likewise, the index for construction dropped to -35.5 from -32.9.
A separate survey from the EC showed an improvement in business sentiment. The business confidence index rose by 0.42 points to -1.19. The increase was reflected in all components, namely order books, past production, production expectations and the adequacy of stocks of finished products.
