Eurozone Economic Confidence Strengthens In November

Eurozone economic confidence continued to improve in November, survey data from the European Commission showed Wednesday.

The economic confidence index improved to 114.6 from 114.1 in the previous month. The score came in line with expectations.

The overall increase resulted from improved confidence among consumers and in the construction sector, which was partly offset by a decrease registered in the retail trade sector.

The consumer sentiment index climbed notably to +0.1 in November from -1.1 in the prior month. The score came in line with the flash estimate. Similarly, in the construction sector, the sentiment index advanced to 1.6 from 0.4.

Meanwhile, the retail trade confidence slid to 4.2 points from 5.5 in October.

Confidence in industry and services remained broadly unchanged in November. The industrial sentiment index rose slightly to 8.2 from 8.0.

Likewise, the index among service providers rose marginally to 16.3 from 16.2 in the previous month.

Another report from EU showed that the business confidence index came in at 1.49 in November versus 1.44 in October.

Managers’ appraisals of both past and future production and export order books improved. By contrast, assessment of the stocks of finished products and overall order books remained broadly unchanged.

The material has been provided by InstaForex Company – www.instaforex.com